Jim Cramer on Bank Earnings, Stimulus, Exxon, Palantir, Stock Market Friday

In Friday's stock market breakdown, Jim Cramer talks stimulus, bank earnings, Palantir, Exxon, Poshmark and more.
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We have a new stimulus plan. 

The package was unveiled by President-elect Joe Biden late Thursday. 

Biden’s "American Rescue Plan" includes $1,400 checks for individuals, on top of $600 provided in the last relief bill. Other elements of the plan include extending supplemental unemployment payments and a moratorium on evictions and foreclosures through September.

In Friday's stock market breakdown, Jim Cramer talks stimulus, bank earnings, Palantir  (PLTR) - Get Report, Exxon, Poshmark  (POSH) - Get Report and more: 

And then we have earnings. 

Both JPMorgan  (JPM) - Get Report and Wells Fargo  (WFC) - Get Report impressed with their earnings. 

Walls Fargo reported net income of $2.99 billion, or 64 cents a share, for the fourth quarter, vs. $2.87 billion, or 60 cents a share, in the comparable year-earlier period. Analysts polled by FactSet had been looking for earnings of 58 cents a share.

JPMorgan earnings came in at $3.79 per share, up 47% from the same period last year and well ahead of Wall Street's consensus forecast of $2.62 per share. Group revenues, JPMorgan said, rose 3.4% to $30.2 billion, again ahead of analysts' estimates of a $28.7 billion tally.

And finally, let's talk about the future of public companies.

"In his No-Huddle Offense segment, Cramer proclaimed that new investors have changed the landscape of the market forever, and not just with their high-risk, high-reward strategies," wrote TheStreet's Scott Rutt in his Mad Money recap. "Cramer explained that earlier Thursday, he interviewed the CEO of Petco. In years past, Cramer would have been focused on earnings and sales growth. But younger investors wanted to know about the company's social responsibility efforts, including stamping out kill-shelters and supporting animal cancer research."

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