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Stock Market Today With Jim Cramer: Tesla Joins S&P 500 on Monday

Jim Cramer discusses the latest stock market news including Tesla's addition to the S&P 500, expectations from Nike's earnings and Boeing stock.

Stocks declined Friday as congressional leaders made slow progress on agreeing to a stimulus package and investors monitored fresh U.S.-China tensions.

The Dow was down 186 points, or 0.61%, to 30,116, the S&P 500 fell 0.64% and the Nasdaq declined 0.23%.

TheStreet's Katherine Ross discussed breaking news in the stock market. Cramer spoke about Tesla's addition to the S&P 500, expectations from Nike's earnings and Boeing stock.

Tesla: Buy Or Sell?

Shares of electric vehicle maker Tesla  (TSLA) - Get Tesla Inc Report edged higher Friday as Wall Street's most polarizing stock prepared for its debut on the S&P 500 next week with a market value of more than $620 billion.

Cramer said pressure is being created by the addition of Tesla into the S&P 500 and rebalancing. "The bigger companies are all selling off and I think that's money that will end up going to Tesla. So the artificial nature of the selloff cannot be avoided. Apple  (AAPL) - Get Apple Inc. Report is under liquidation to put money into Tesla. Might be an opportunity to buy Apple."

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Nike: Buy Or Sell?

Sports retailer Nike  (NKE) - Get NIKE, Inc. Class B Report will report its earnings later on Friday.

Cramer said he wants Nike to say its direct to consumer model is very much right. "The direct to consumer model is about disenfranchising the mediator and making more money for Nike. I want to hear business in China is even stronger than they thought. I don't want to hear that America has slowed down again. I want to hear direct-to-consumer saved America."

Boeing: Buy Or Sell?

This week on Mad Money Cramer said that hospitality could be a coiled spring which is why Boeing  (BA) - Get Boeing Company Report remains a post-pandemic favorite, along with the airlines, cruise lines and casinos. The market is betting big on travel, Cramer said, and you should be, too.

Cramer said post-pandemic you have to take a hard look at travel, leisure, hospitality stocks. "I have been looking at Airbnb for ActionAlerts Plus. But the number one name is Boeing. Boeing was at $349 in February before the pandemic but it's down 32% for the year. Many stocks are already up. It is a huge China play. Once we open up people are going to say I got a second chance on life, I want to do something and that's why Boeing is the number one name."

Nike, Apple and Boeing are key holdings in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells the stock? Learn more now.