What's going on in the markets? Well, hope for stimulus is still buoying optimism.
However, a slew of recent IPOs including the Wednesday debut of DoorDash has Jim Cramer approaching the market with caution.
During TheStreet's daily live show, Cramer said that an influx of new stocks to the market tend to leave him worried as investors have a limited supply of cash. "Be cognizant that people run out of money," Cramer warned.
Airbnb is also expected to IPO Thursday.
In the video below Jim Cramer talks stimulus, FireEye (FEYE) - Get FireEye, Inc. Report, GameStop (GME) - Get GameStop Corp. Class A Report, Tesla (TSLA) - Get Tesla Inc Report, DoorDash (DASH) - Get DoorDash, Inc. Class A Report and more:
There was a $916 billion coronavirus relief proposal that was pitched by the White House.
Treasury Secretary Steven Mnuchin pitched a stimulus plan to House Speaker Nancy Pelosi in a telephone call on Tuesday afternoon. The White House largely has been absent from aid negotiations since Election Day, leaving Senate Majority Leader Mitch McConnell to lead the discussions.
McConnell and House Republican leader Kevin McCarthy both have put their support behind Mnuchin's offer. But Pelosi and Senate Democratic leader Chuck Schumer, while noting the White House proposal marked "progress," said not including supplementary jobless benefits in the package was “unacceptable."
Though Cramer is cognizant of the bad blood that is running rampant on Capitol Hill, he remained optimistic that a deal can be reached. "The fact is that people need money right now. It's Hard for Democrats to say 'no,'" Cramer said.
Daniel Kuhn contributed reporting to this article.
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