Stocks rose Friday as soaring growth in China provided investors with further reasons to believe in a surging post-pandemic recovery.
TheStreet's Katherine Ross and Jim Cramer discussed breaking news in the stock market. Cramer spoke about Pfizer, rising tensions between the U.S. and China and markets on Friday.
Pfizer: Buy Or Sell?
Pfizer (PFE) - Get Pfizer Inc. Report Chief Executive Albert Bourla told CNBC that people taking the drug giant’s COVID vaccine will “likely” need a third dose of it within a year after the second one.
Vaccinations might be necessary every year, he said. Bourla made the comments April 1, but they were aired Thursday.
Cramer said he doesn't hate Pfizer stock as much as he used to. "But I would not swap out Abbott Laboratories (ABT) - Get Abbott Laboratories Report, Eli Lilly (LLY) - Get Eli Lilly and Company Report, Bristol Myers Squibb (BMY) - Get Bristol-Myers Squibb Company Report and AbbVie (ABBV) - Get AbbVie Inc. Report for Pfizer," Cramer added.
U.S. Vs. China
Cramer in his Real Money column Friday morning wrote he sees "no path to improve relations [between the U.S. and China] and many to make things even hotter."
Cramer said the Chinese have now decided that we are now a pitiful, helpless giant. "And they want to come after us with everything they've got. Former vice president Mike Pence in 2018 gave a very spirited speech about how the cold war is here. And the Chinese are more aggressive than we are," added Cramer.
Markets on Friday
Cramer said it's been a profit-taking day in the markets. "There have been some profits that have been taken certainly not based on anything that's negative either in the stock or bond market," said Cramer.
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