The Dow Jones, Nasdaq, and S&P 500 are going lower today after warnings that opening the economy too quickly could result in an uncontrollable outbreak. Dr. Fauci addressed Senators today and poured cold water on everyone's hopes to return to normal sooner than later.
TheStreet's Katherine Ross discussed today's breaking news in the stock market on StreetLightning with Jim Cramer. Cramer discussed Dr. Fauci addressing Washington D.C., cannabis stocks seeing a return to its highs, and United Airlines facing backlash from its full cross-country flight.
Dr. Fauci Goes to Washington
Yes, I am aware that Dr. Fauci works at the White House and Washington D.C. is where he resides but today, Dr. Anthony Fauci testified about the coronavirus pandemic and what opening the economy could mean in the U.S. moving forward. Dr. Fauci also talked about all the opportunities we have with vaccines and treatments.
Cramer said Dr. Fauci is focusing on the right things to open the economy and we should start working towards those requirements to get there.
Cannabis Stocks: Buy or Sell?
What needs to happen for cannabis stocks to start making progress in the market? States like Colorado and Vermont are benefiting from positive ramifications of legalizing recreational marijuana but what will it take for states like New York to go the same route or for the federal government to legalize marijuana?
Cramer talks about legalizing marijuana and what needs to happen to see cannabis stocks benefit from that development.
United Airlines Faces Viral Backlash
United Airlines made news this week with a viral photo from a doctor on a United Airlines flight. United Airlines responded to the photo by announcing they added several medical professionals to the flight for free. United shifted its policy after the backlash for more social distancing.
Cramer talks about United Airlines and the backlash they are facing this week.
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