And just like that, it's Thursday.
Let's go over what Jim Cramer is watching in the markets.
An Update on the Coronavirus
The World Health Organization will take the stage later Thursday for a press conference on whether or not the coronavirus is a global health emergency.
But, earlier this morning, Beijing canceled all large-scale Chinese New Year celebrations and Enforced travel restrictions.
Here's what's happened so far.
China has locked down the city Of Wuhan, which is the sixth-largest city in China, which means that public transportation has been shut down and there's a travel ban.
As of this morning, 17 people have died from the outbreak, and there are over 500 confirmed cases in China. There's also one confirmed case in the U.S. and, as of this morning, Singapore had also reported its first case of coronavirus.
So, have we seen the full impact of the coronavirus on the markets or should investors remain concerned?
UBS's Note on Tesla
It boosted the price target to $410 from $160.
However, analysts kept the stock at a sell rating.
In a note to clients, UBS analyst Patrick Hummel said that while Tesla has the potential to become a profitable original equipment manufacturer or OEM, he still thinks the shares are over-shooting after more than doubling in the past three months.
Having the biggest long-term opportunity in autonomous vehicles, Tesla justifies a market value “well above” most incumbent OEMs, Hummel said, though risks in execution and U.S. demand following the phaseout of tax credits seem to be getting ignored.
Until a few months ago, Cramer was a skeptic himself. How can Tesla prove itself to the rest of Wall Street?
And, Finally, Let's Talk About the Semiconductors
Jim Cramer weighed in on the semiconductors in his latest column on Real Money.
He asked, "Is it too late to get on board the semiconductor train? Have you missed the move that seems to have engulfed everything from Micron Technology MU to Teradyne TER to Nvidia NVDA and Lam Research LRCX?"
So, how do investors know when a pullback is coming?