Stocks were mostly higher Monday as Wall Street kicked off the first trading day of May with investors betting on a strong U.S. recovery.
TheStreet's Katherine Ross and Jim Cramer discussed breaking news in the stock market. Cramer spoke about the antitrust lawsuit between Apple and Epic Games, expectations from T-Mobile earnings and markets on Monday.
Apple Vs. Epic Games
Apple (AAPL) - Get Apple Inc. Report and Epic Games, which produce the popular video game "Fortnite", are headed to federal court in California this week. Epic Games has accused the tech giant of violating antitrust laws with its App Store fees.
Cramer said the antitrust case between Apple and Epic Games is worth watching. "I didn't think of Apple as a monopoly and I always felt it was a helpful [Apple's App store] store that takes a big percentage and you keep the rest. Arguments against that are disingenuous because these companies don't need to be on Apple. Being on Apple is more of a privilege than they realize, it's not anti-competitive," he added.
T-Mobile: Buy Or Sell?
Cramer said T Mobile's earnings will be interesting to see given that we have AT&T (T) - Get AT&T Inc. Report, which is doing much better, and Verizon (VZ) - Get Verizon Communications Inc. Report having sold AOL and Yahoo.
Cramer added he would like to see from T-Mobile earnings that 5G is still in shape. If that's the case then chipmakers Marvell Tech (MRVL) - Get Marvell Technology Inc. Report and AMD (AMD) - Get Advanced Micro Devices Inc. Report will do better.
Cramer said there is a lot of pseudo analysis about May. "Like a lot of other months you have a lot of contributions being made at the beginning of May. When the market is going up it encourages more investing. A lot of the initial investing was done when the market was down a lot. A lot of the younger people came in when it was down a lot and I salute them they made the good move. But we have a lot of liquidity but we also have a lot of companies doing well," added Cramer.