Stocks rose Thursday after the number of Americans filing for first-time unemployment benefits fell last week, durable goods orders climbed at the fastest pace since January and President Joe Biden announced a tentative agreement on a $559 billion infrastructure plan.
“We have a deal,” Biden told reporters after a bipartisan agreement was presented to him at the White House.
Jim Cramer on Fintech and Banking Stocks
"PayPal did raise rates. And PayPal does not have the kind of debt worries that a bank has. It is unregulated," Jim Cramer said Thursday.
He said he's glad that he and his team at Action Alerts PLUS bought the stock for the investing club's portfolio.
The Action Alerts PLUS investing team made "prescient" sales of JPMorgan Chase (JPM) - Get JPMorgan Chase & Co. (JPM) Report and Goldman Sachs (GS) - Get Goldman Sachs Group, Inc. (GS) Report, Cramer said.
Bed Bath & Beyond to the Moon, Cramer Tweets
Jim Cramer is a believer in Bed Bath & Beyond (BBBY) - Get Bed Bath & Beyond Inc. Report now that the Reddit crowd has moved on from the stock. There's still a 33% short interest in the home-goods retailer, which could make it potentially a meme-stock target once again.
"It was hard to move because the shorts came out again and there's a lot of people who bought it in the $13/$17 area and they want to take the profit," Cramer said.