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Stock Market Today With Jim Cramer: Investing in Housing Stocks

Jim Cramer discusses the latest stock market news including Electronic Arts' deal with Glu Mobile, housing stocks and the importance of home testing kits for economic recovery.

Stocks were higher Tuesday in anticipation of President Joe Biden's coronavirus stimulus package.

TheStreet's Katherine Ross and Jim Cramer discussed breaking news in the stock market. Cramer spoke about Electronic Arts' acquisition of gaming firm Glu Mobile, why the housing demand market is booming despite unemployment, and the importance of home testing kits to enter the next phase of economic recovery.

Electronic Arts: Buy Or Sell?

Electronic Arts  (EA)  is buying Glu Mobile  (GLUU)  for $2.4 billion. The move combines the makers of Madden NFL and Kim Kardashian: Hollywood.

Cramer said mobile gaming will be really important to Electronic Arts and this deal makes a lot of sense.

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Housing Stocks

Cramer said top executives at real estate firms have echoed that this is the greatest demand market they have ever seen."The move out of the city and into the suburbs has led to expansion for everyone. Interest rates are picking up but they are still at historically low levels. If there is a radical rise in interest rates by the Fed then these stocks are not going to work."

Coronavirus Testing

Cramer said he is concerned about the coronavirus variants found in South Africa and the U.K. "You've got to catch these variants literally the first or second day because that's how you can stop it from getting to others by using self-administered COVID-19 tests from companies like CVS  (CVS)  and others. We need cheaper stay-at-home tests for everyone in this country to be able to mitigate the spread. That's what could keep us from going to the next level of recovery."

CVS Health is a key holding in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells the stock? Learn more now.