President Trump, Wall Street and Uncertainty: Jim Cramer's Market Recap

Jim Cramer weighs in on the election and what President Trump means for the stock market.
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After a week-long rally in U.S. markets, markets edged lower with the Dow ending with losses and the Nasdaq and S&P finishing flat Friday as Wall Street awaits a result from the 2020 presidential election. 

Jim Cramer said he isn't ready to call an end of the rally, describing strong earnings from Peloton  (PTON) - Get Report and Take-Two (TTWO) - Get Report as the "tale-of-the-tape." 

"We are getting to the point not where we know who is going to be president, but we know who is doing well as companies. The sideshow that is Washington is almost over...Wall Street hates excitement. The President, and I know this from when I was a judge on The Apprentice for many years, loves excitement," Cramer said.

Cramer said love or hate Trump and his policies, the President has created uncertainty, and uncertainty has always been hard for Wall Street to swallow

"We have been dealing for the last four years with a tweet that can destroy the market....there is a level of belief that we're going to be out of the woods of uncertainty," Cramer said. 

Jim Cramer breaks down what Trump and Biden mean for the markets and his latest thoughts on the election, T-Mobile  (TMUS) - Get Report, CVS  (CVS) - Get Report, UBER  (UBER) - Get Report and more in the video below: 

On Friday, the Associated Press has former Vice President Joe Biden pulling ahead with 264 electoral votes and he has taken the lead in both Pennsylvania and Georgia. President Donald Trump has 214 votes.

The Pennsylvania GOP has asked the Supreme Court to order Pennsylvania to order the segregation of ballots received after election day.

A projected result from the election could come as soon as today as key battleground states rush to finish counting votes.

Daniel Kuhn contributed reporting to this article.