Is it time to buy healthcare?
"All year long, we've seen investors swapping out of the stay-at-home stocks in favor of the great reopening stocks. Until now, that meant swapping into one thing -- the cyclicals. But today, that trade ended and investors took a pause on the cyclicals to give some love to technology and healthcare," wrote TheStreet's Scott Rutt in his Mad Money recap.
"These are strange times, Cramer told viewers. The Dow Jones Industrial Average only hits new highs when the economy is booming. And when the economy is strong, so too are interest rates. But on Thursday, we saw interest rates fall, which make technology and healthcare also attractive," he continued.
"The move in healthcare was pronounced, with UnitedHealth Group (UNH) - Get Report soaring 3.8%, GlaxoSmithKline (GSK) - Get Report up 4.3% and Eli Lilly (LLY) - Get Report gaining 1.6%. Even Johnson & Johnson (JNJ) - Get Report was able to eke out gains. The rise in healthcare was met with a similar move in tech, where Cramer favorites Twilio (TWLO) - Get Report and Okta (OKTA) - Get Report rallied 4.8% and 5.5% respectively."
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