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Jim Cramer on the U.S.-Iran Tensions and How to Approach the Market

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It's Friday.

Jim Cramer is back from vacation, which means it's officially time to launch TheStreet Live: 2020 Edition.

Cramer is breaking down what investors need to know about the U.S. airstrike that killed a top Iranian general Thursday night, but he's also got some stocks for investors to watch, and--of course--the sectors he's watching in 2020.

Let's Start With Iran

The military strike took down General Qassem Soleimani, the head of Iran's Quds Force, at Baghdad's airport.

"At the direction of the president, the U.S. military has taken decisive defensive action to protect U.S. personnel abroad by killing Qassem Soleimani," the Pentagon said in a statement, adding the general was "actively developing plans to attack American diplomats and service members in Iraq and throughout the region."

The strike followed an attack on the U.S. embassy in Baghdad by suspected Iranian militants earlier this week.

Iran's supreme leader, Ayatollah Ali Khamenei, vowed to seek revenge on American targets with the help of allies around the Muslim world, sparking concerns for potential supply disruptions and reprisal attacks on tankers and facilities in the Gulf region.

The news sent crude soaring.

"Oil has been gaining steadily for most of the past three months, with U.S. crude prices capping the whole of 2019 with a 35% gain -- the best in three years -- amid improving U.S.-China trade prospects, a carefully brokered agreement on production cuts between OPEC cartel members and key allies such as Russia, and ongoing military and political tensions in the Gulf region," noted TheStreet's Martin Baccardax.

Let's Talk Sectors and Stocks

If you're looking for some sectors, or stocks to watch, Cramer has some suggestions.

Cramer says that investors should take a close look at the banks.

For more watch the full video. 

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