Is it time to buy or sell stocks? Will Sears host another annual meeting? Can the stock market be serious?
With so many different stories, it might be hard to uncover the news to pay attention to. TheStreet has rounded up three of the top stories of the day. Here's what you need to know.
Which Selloffs Are Real Buying Opportunities? Cramer Goes 'Off the Charts'
Jim Cramer, founder of TheStreet, talked with Bob Lang, founder of Explosive Options, about three selloff stocks that he believes are worth holding onto. Cramer and Lang examined whether the selloffs in Caterpillar (CAT) - Get Caterpillar Inc. Report , Boeing (BA) - Get Boeing Company Report and United Technologies undefined represent genuine buying opportunities. Lang told Cramer the selling in these three former market darlings was premature because the numbers look good and the technicals look even better.
Caterpillar's stock had a strong run last year, but flopped a bit after its earnings call. Lang believes that Caterpillar can increase its stock if it goes back to trading at $152.
Boeing's been hit twice this year. Its stocks dropped when fears escalated about a trade war with China and then again when it released its earnings.
The relative strength index or RSI, an important momentum indicator, bottomed last week and started turning higher. Lang thinks that was a good sign for United Technologies.
The Stock Market Is Being Incredibly Silly
TheStreet's Executive Editor, Brian Sozzi, thinks the stock market is "being silly."
"There I was on Tuesday at 2:00 p.m. waiting for the Dow Jones Industrial Average I:DJI to crash 1,700 points as Trump verbally ripped Iran to shreds (and pulled out of the Iran deal). The Dow instantly tanked 80 points one sentence into Trump's latest global spectacle. But then the Blue Chip index rallied back as Trump continued to hit Iran, and actually finished the session higher. As a 15-year old would put it: #WTF," said Sozzi.
Sears Stock Soars After Amazon Deal Announcement
Think Sears is done yet? Well, think again. The stock soared this afternoon after Sears Holdings Corp. (SHLD) reported that it had struck a deal with Action Alerts PLUS holding Amazon (AMZN) - Get Amazon.com, Inc. Report to allow Amazon customers nationwide to purchase tires online and easily set up an appointment to get them changed. The shares increased 15% in afternoon trading and closed at nearly a 16% gain.
Sears is still "fighting like hell," said Eddie Lampert, CEO of Sears, at the company's annual shareholders meeting.
Only time can tell if Sears can fight hard enough to stay in the game, but its partnership with Amazon seems to be a step in the right direction—according to the market.