Jim Cramer on NYC Reopening: Restaurants Can't Be Run Profitably Without a Vaccine
"It's almost impossible to run a restaurant until we get a vaccine," said Jim Cramer.
However, with Democrats and Republicans talking about a possible stimulus plan on the Hill, is that the case?
Treasury Secretary Steven Mnuchin indicated he expects to reach agreement on a stimulus package with House Speaker Nancy Pelosi.
Mnuchin told CNBC that he would be speaking with Pelosi Wednesday afternoon. He said he hopes by Thursday to reach an “understanding” with Pelosi on a relief package.
“I say we’re going to give it one more serious try to get this done and I think we’re hopeful that we can get something done,” Mnuchin said. “I think there is a reasonable compromise here.”
After the meeting, Pelosi and Mnuchin indicated that a deal had not yet been reached, but that the two would continue to talk.
And this all comes after a stronger-than-expected reading on U.S. private payrolls and Chicago PMI also lifted sentiment in the markets.
The U.S. private sector added 749,000 jobs in September, according to Automatic Data Processing, possibly setting up a stronger-than-expected reading for nonfarm payrolls on Friday. Economists had expected U.S. private employers to add 605,000 jobs to payrolls last month.
So, what does Cramer make of all of this with NYC reopening indoor dining and the positive test count going up?