Jim Cramer has some advice for investors who aren't sure how to react to the Dow and the S&P hitting record highs earlier this week. He's also taking a close look at President Trump's tweets about Facebook's (FB - Get Report) Libra and Jerome Powell's hesitation, and he has some thoughts about Amazon's (AMZN - Get Report) Prime Day.
Market's Hitting New Highs
Well, the end of the week was certainly a turnaround from the start of the week.
We had the S&P 500 hit 3,000 this Wednesday.
And, then the Dow followed suit. For the first time ever in trading, the Dow hit 27,000 Thursday.
All three indices proceeded to open at intraday highs July 12.
But, for investors who are carefully eyeing these new highs--what should they do? Here's the advice that Cramer has for investors:
Can Trump and Powell Agree?
Real Money Stock of the Day Facebook's Libra, the digital currency that Facebook announced earlier this summer, has been hitting the headlines throughout the week.
Thursday night, President Trump tweeted about Libra and his thoughts on the digital currency.
....Similarly, Facebook Libra's "virtual currency" will have little standing or dependability. If Facebook and other companies want to become a bank, they must seek a new Banking Charter and become subject to all Banking Regulations, just like other Banks, both National...— Donald J. Trump (@realDonaldTrump) July 12, 2019
This follows the Federal Reserve Chair's Jerome Powell's two-day testimony in front of the House Financial Committee. Powell spoke out about Facebook's Libra, saying that he had "serious concerns."
Is this the first time that Powell and Trump agree?
Let's Get Primed
Are you ready?
Amazon Prime Day is just around the corner.
This year, the sale is not only extended to 48 hours, but it's also featuring deals and exclusive items from celebrities such as Lady Gaga, Kristen Bell, and Kobe Bryant.
Consumers are already pumped about the sale, but are investors?