Health stocks are returning, says Jim Cramer

Jim Cramer, from CNBC, highlighted health stocks on Thursday, a recovery segment that he said helps the market grow.

After being reduced and “left to die” amid the coronavirus pandemic, health stocks are returning, he said.

“I think the stocks left behind by health care are coming back to life at the expense of cyclical growth games and you should take one before they all really take off,” said the “Crazy Money” host.

The comments come after strong economic data helped lift the Dow Jones industrial average to over 34,000 for the first time in Thursday’s session. The 30-share index gained 305 points, or 0.9%, to close at 34,035.99, driven by an increase in UnitedHealth Group shares.

UnitedHealth, an insurance provider and Dow component, released a quarterly report that exceeded analysts’ estimates. Positive action could also be found in GlaxoSmithKline, Eli Lilly, Regeneron Pharmaceuticals and Johnson & Johnson, which was removed by the launch of the Covid-19 vaccine, Cramer said.

With the exception of Johnson & Johnson, each of these shares rose double-digit from their recent lows, returning to the top of the year.

“This cohort had fallen so much in his favor that it was ultimately of enormous value. Just wait for the signal to move … [and] it happened, “Cramer said.” Given how monumental that move was, I bet it’s far from over. “

Disclosure: Cramer’s charity owns shares in Eli Lilly.

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