Stocks fluctuated Wednesday after Federal Reserve Chairman Jerome Powell said the U.S. labor market was a "long way" from a recovery. Cannabis stocks are rising Wednesday after positive earnings from companies in the sector.
TheStreet's Katherine Ross and Jim Cramer discussed breaking news in the stock market. Cramer spoke about Twitter's stellar earnings, chip shortage and markets on Tuesday.
Twitter: Buy Or Sell?
Shares of Twitter (TWTR) - Get Twitter Inc. Report rose Wednesday after the social media company posted better-than-expected fourth-quarter earnings on a recovery in digital advertising, sparking a raft of analyst price-target boosts.
Cramer said Twitter will go higher as the platform becomes kinder and gentler and the top management continues to do the right thing.
Chip Shortage Hurts Auto Stocks
General Motors (GM) - Get General Motors Company Report said Tuesday that it was extending production cuts at three North American plants until at least mid-March due to the worldwide semiconductor shortage.
Cramer said the semiconductors that are short are not really specially customed chips. "They are chips available to anybody who makes cars. So, if you're the Chinese and you have an incredibly booming car market, you're going to buy all those chips and store them. Maybe, even hoard them, which is legal."
Markets on Wednesday
Cramer said there is a lot of froth and with the S&P500 oscillator up at +5 you have to immediately sell. "Or if you buy you have to buy a smaller position."