The market took off yesterday in a rally that recorded the average rally of Dow Jones Industrial over 600 points, but the Dow, Nasdaq and S&P 500 fell on intraday trading on Tuesday.
So what are Jim Cramer and Katherine Ross paying attention to on March 2?
“I was so high yesterday, that’s what you want,” Cramer said. “This is a consolidating market.”
However, Cramer called the recent Nasdaq stock “baffling” as stocks, including Nvidia (NVDA) – Get the report and Apple (AAPL) – Get the report he continues to sell for the wrong reasons in his opinion. “There is a great antipathy to technology stocks,” Cramer said.
Recap Tuesday’s episode of TheStreet Live in the video below and make sure you catch Jim Cramer and Katherine Ross live every week at 10:30 AM ET:
The apple of our eye?
Apple (AAPL) – Get the report reopened its last US closed locations in Texas on Monday, according to CNBC, which quoted a company spokesman as saying.
However, not all Apple stores in the US are open to customers entering the market, the report added. Although, obviously, all customers can jump online and access the Apple store 24/7.
Last year, Apple closed all of its physical stores outside of China in mid-March as the coronavirus pandemic swept the world. The company reopened and closed stores again in response to local COVID-19 conditions since then.
“Stores don’t really matter,” Cramer said, adding that he maintains his view that Apple is a stock held rather than a trade.
Electric vehicles vs. Exxon
Jim Cramer took it Real money to write a column on electric vehicle space and what all the hype about the industry about Exxon tells us (XOM) – Get the report the board moves.
“Exxon’s board moves indicate that it knows its gasoline days are numbered,” Cramer said.
“This is the challenge of the old paradigm and the joy of the new. This is the year in which I believe ESG-oriented funds are putting pressure on oil companies to suggest that they should not be owned. Oil has had a remarkable comeback in 2021, it is undeniable, but many of them are Saudis who restrict production and fear that President Biden means business when it comes to climate change, which means supporting any EV launch on the market. ” he wrote.
When asked how long Exxon shares could continue to rise, Cramer said the momentum could continue as long as oil prices continue to rise.
Kohl’s earnings
To Kohl (KSS) – Get the report adjusted earnings of $ 346 million or $ 2.22 per share. Earnings included a tax benefit of $ 1.15 per share. Sales reached $ 6.14 billion compared to $ 6.83 billion a year ago.
“After an extraordinary year of pandemic management, we have ended the year in a very solid financial position and are entering 2021 with a strong momentum,” CEO Michelle Gass said in a statement.
Target gains
Aim (TGT) – Get the report reported adjusted earnings that came in at $ 2.67 per share, which exceeded the consensual street forecast of $ 2.54 per share.
“After years of investing in building a sustainable, scalable and sustainable business model, we have seen record growth in 2020, as our guests have turned to Target to ensure the safety of their families throughout the pandemic.” said CEO Brian Cornell. “With the strength of our unique, multi-category assortment and the flexibility we offer through our reliable and convenient delivery options, we have gained nearly $ 9 billion in market share in 2020 and increased our revenue by $ 15 billion. , which is more than the previous 11 years combined. “
Watch: What Kohl’s says, Jim Cramer’s target earnings on retail
What happened to Mad Money last night?
“Forget investing in obvious economic reopening stocks,” Jim Cramer told viewers of Mad Money on Monday. . streets Scott Rutt wrote in his Crazy money recapitulation.
“Instead, Cramer said he is betting on stocks like the payment processor Square, which announced today that the company is starting a bank to expand its offerings,” he continued.
Curious about what Jim Cramer and his Action Alerts PLUS team are looking for in the markets? Watch the exclusive Cramer Daily Rundown show, exclusively for members, on Action Alerts PLUS after TheStreet Live.
Daniel Kuhn contributed to the reporting of this article.