Stocks opened lower Friday as markets finally reached September 17, a date that has been dominating Jim Cramer's mind since the beginning of the month, and a quadruple witching hour is expected to bring late-hour trading volatility.
Citing celebrated chartist Larry Williams, Cramer has warned all week that Sept. 17 marks the beginning of a seasonally weak trading period.
"I have said over and over again that September is the cruelest month and it's playing out that way with rolling corrections all over the place. What goes up today will go down tomorrow and vice- versa. That's a recipe to lose money... Sept. 17 starts the toughest period of the year," Cramer wrote in a recent column on Real Money.
The Dow Jones Industrial Average was down 68.91 points, the Nasdaq Composite was down 20.51 points and the S&P 500 was down 8.13 points.
Jim Cramer and Action Alerts PLUS senior analyst Jeff Marks discussed September markets, the quadruple witching hour, booster shots, the Federal Reserve, Ford (F) - Get Ford Motor Company Report, Pfizer (PFE) - Get Pfizer Inc. Report and much more.
Watch the full interview with TheStreet Live at 10:00 a.m. E.T. in the video below:
FDA Advisory Panel Meets on Booster Shots
Amid fierce public debate, a Food and Drugs Administration advisory committee is meeting to discuss the need for booster shots for members of the public over the age of 16.
The Vaccines and Related Biological Products Advisory Committee to the FDA will consider data submitted by Pfizer (PFE) - Get Pfizer Inc. Report and Moderna (MRNA) - Get Moderna, Inc. Report and will submit its recommendation.
A vote among committee members is expected Friday afternoon. The FDA is not required to follow the recommendation, but often does so.
Ford Gives F-150 Lightning Production a Jolt
Ford is doubling down on its bet on the all-electric Ford-150 Lightning, investing $250 million in its Rouge Electric Vehicle Center, Van Dyke Electric Powertrain Center and Rawsonville Components Plant.
Ford, in a press release Thursday, said the investment will help the company increase production to 80,000 trucks a year.
The company has reported over 150,000 preorders for the electric truck.
Ford is a holding in Jim Cramer's Action Alerts PLUS charitable portfolio.