Stocks were declining in intraday trading on Wednesday, a day after the S&P 500 and Nasdaq both set record highs, but came off earlier lows as oil prices moved higher and energy shares rose.
Wall Street had traded lower earlier after a report from ADP said the U.S. added 307,000 private-sector jobs in November, missing economists' estimates of 405,000. It was the smallest gain since July.
And the U.K. approved Pfizer's (PFE) - Get Report coronavirus vaccine for emergency use, reaching a decision ahead of expected approvals from the U.S. and the European Union.
But what was topping Jim Cramer's attention was Salesforce's (CRM) - Get Report deal to acquire Slack (WORK) - Get Report.
Catch why Cramer thinks analysts are "all wrong" on the move in the video above.
You can follow Jim Cramer and Katherine Ross on Twitter at @JimCramer and @byKatherineRoss. Read more from Katherine Ross here.
Watch: Everything Jim Cramer Is Watching in the Markets Wednesday
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