Jim Cramer: This Market Rally Is Based in Hopes Coronavirus Has Peaked

Jim Cramer weighs in on what's driving the markets Monday.
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Let's go over what you need to know about the markets Monday. 

There are nearly three million cases of the virus worldwide, with over 200,000 deaths, according to data from Johns Hopkins.

The U.S. is nearing one million cases. Currently, there are over 960,000 cases.

New York has over 288,000 cases. Spain has over 226,000 cases and Italy has nearly 200,000 cases.

There have been 54,000 fatalities in the U.S.

At the open, stocks were higher despite another tumble for crude oil prices on Monday. West Texas Intermediate crude oil for June delivery dropped almost 24% to below $13 a barrel as crude inventories have risen amid the coronavirus pandemic that has led to an evaporation of demand.

Watch the full video above for Jim Cramer's full take on the market.

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