The S&P 500 set an intraday all-time high on Friday and was on track for its best week since April amid optimism about the U.S. economic recovery.
Sentiment was boosted by the announcement of a roughly $1 trillion bipartisan infrastructure deal and a report on inflation that came in as expected.
Cramer Breaks Down Action Alerts PLUS Names
Hypercomputing is bigger than 5G now at Marvell (MRVL) - Get Marvell Technology Group Ltd. Report, giving the company the type of diversification that investors should value, TheStreet's Jim Cramer told members of his investing club, Action Alerts PLUS.
"Microsoft (MSFT) - Get Microsoft Corporation (MSFT) Report has moved up on a delayed reaction to its latest quarter. It remains inexpensive vs. its historic growth rate and its consistency," Cramer said.
"People are asking why we aren't taking profits in Nvidia (NVDA) - Get NVIDIA Corporation Report after this remarkable run. The answer is that there is so much that is coming to fruition and we need to know if it has won the right to buy another company I love, Arm Holdings," Cramer said of Nvidia.
Cramer: Nucor to Benefit From Infrastructure Deal
The roughly $1 trillion plan includes more than $500 billion in new spending focused on improving the nation’s roads, bridges and broadband.
President Joe Biden expressed his support for a bipartisan infrastructure bill drafted by 11 Republicans and 10 Democrats.
“It was essential to show the American people that the Senate can function...America can get things done," Sen. Susan Collins (R-Maine) said during comments to reporters.