Stocks posted solid gains in intraday trading on Tuesday and the Dow Jones Industrial Average crossed 30,000 for the first time as President-elect Joe Biden was given the go-ahead to formally begin his transition and Wall Street bet more fiscal stimulus would be forthcoming.
Reports said Biden would nominate former Federal Reserve Chair Janet Yellen as Treasury secretary. Yellen would be the first woman to lead the department. She also was the first woman to serve as Fed chair after her Senate confirmation in 2014.
Investors expect more economic stimulus is likely with Yellen as Treasury secretary since she has argued that Congress has to come through with additional aid to help lead a U.S. economy crippled by the coronavirus pandemic.
Prior to the Dow crossing 30,000, Cramer weighed in the bullishness that drove the Dow to points away from the benchmark at the time of the taping of the video above.