Jim Cramer: Walmart, Amazon and Costco Are Retail Winners
Wednesday morning, economic data came out to show how hard the retail sector is being hit.
U.S. retail sales fell 8.7% in March, wider than estimates that called for a decline of 8%. The declines last month - driven by stay-at-home orders that forced many businesses such as restaurants to shut their doors, were the most since the Commerce Department began compiling the data in 1992.
Meanwhile, the Empire State Manufacturing Index registered a -78.2, a record low, as factory floors went dark during the coronavirus pandemic. Economists had expected a decline to -35.
The major indices all opened down, with the Dow falling over 500 points in intraday trading.
And, on top of retail, the markets got data from the Mortgage Bankers Association and the homebuilder confidence index took a dive last month.
So what does Jim Cramer think about the economic data?
Watch the full video above to hear which names Jim Cramer would buy in this environment.
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Cramer and the team are weighing in on what members need to know about the coronavirus pandemic's impact on the market live over on Action Alerts PLUS. You can tune in at 11:30 a.m. ET.