Stocks were higher in intraday trading on Tuesday, August 4.
And stocks ended higher on Monday, the first trading day of August, with the tech-heavy Nasdaq reaching an intraday high and hitting its 29th record close of the year.
Ford, on Tuesday, announced that CEO Jim Hackett, 65, will retire from the iconic automaker in October after three years at the helm. He will be succeeded by the current chief operating officer, Jim Farley, 58.
President Donald Trump stoked international tensions after he demanded that taxpayers receive a "substantial portion" of any sale of the American operations of TikTok, the China-based social media app. The president late last week had ordered it to be sold.
In response, the state-backed China Daily newspaper said Tuesday that "China will by no means accept the ‘theft’ of a Chinese technology company, and it has plenty of ways to respond if the administration carries out its planned smash and grab."
This comes after Microsoft, on Sunday, said that it's looking at buying TikTok's U.S. business after Trump ordered it divested amid concern about data privacy linked to its China-based owners, ByteDance. That followed an investigation by Committee on Foreign Investment in the United States.
From Street Lighting: Why Jim Cramer Isn't Sure Microsoft Is Right Buyer for TikTok
And, in economic news, the Commerce Department said factory orders rose 6.2%, boosted by a surge in demand for motor vehicles, after rebounding 7.7% in May. Economists polled by Reuters had forecast that orders advanced 5.0% in June.
Jim Cramer said markets are weighing all the factors above and more as investors attempt to gauge what a non-pandemic economy looks like and which names are positioned to win.
Catch his full Tuesday market breakdown in the video above.
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