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Jim Cramer's Advice on the Last Day of August Trading

Jim Cramer has some thoughts on August trading.

It's the final trading day of the month. But first, let's review where we stand in the coronavirus pandemic. 

According to Johns Hopkins, There are over 25.2 million cases of the virus worldwide, with over 847,000 deaths.

The U.S. has surpassed 6 million cases with over 183,000 deaths.

 On the final trading day of the month, stocks fluctuated in intraday trading after Wall Street posted its fifth consecutive week of gains.

The S&P 500 closed at a record high for the sixth straight session Friday, and the Nasdaq also set a record. The Dow moved into positive territory for the year.

The S&P 500 has risen more than 7% in August, putting the index on track for its best performance in August since 1984.

Stocks got a boost last week from Federal Reserve Chairman Jerome Powell’s comments that the central bank would keep interest rates low even if inflation rises above its target levels.

And the Dow got a shakeup., Amgen and Honeywell have joined the blue-chip Dow, replacing Exxon Mobil, Pfizer and Raytheon Technologies, respectively.

More: What Honeywell, Salesforce, Amgen Mean for the Dow

The changes came after Apple announced its 4-for-1 stock split, according to S&P Dow Jones Indices, since the split will reduce the Dow's tech-sector weighting.

You can follow Jim Cramer and Katherine Ross on Twitter at @JimCramer and @byKatherineRoss. Read more from Katherine Ross here. 

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