Stocks are rising as Joe Biden is inaugurated on Wednesday the 46th President of the United States Here are the best stocks to buy for the Biden presidency.
Katherine Ross and Jim Cramer from TheStreet discussed the latest developments in the stock market. Cramer spoke about the gains of Ford, Procter & Gamble and the executive orders that will be announced soon by President Biden.
Ford: Buy or sell?
Ford shares rose on Wednesday after Deutsche Bank added the carmaker to its short-term shopping list.
Investment firm analyst Emmanuel Rosner has made the move, as government spending on infrastructure and vehicle electrification is expected to increase under the new Joe Biden administration.
Cramer said the automotive sector, which is part of remote work, will be the key to track in the first 100 days of the Biden administration. “People don’t understand that we are in a hybrid society now, because we tasted the idea of not going to the office and we don’t want to go back. So people who have jobs and commute can be a thing of the past, especially with a president who is an anti-fossil fuel. The remote works are Ford and GM. I prefer Ford and it was a remarkable winner. Because Jim Farley drives a Ford. “
Procter & Gamble: Buy or sell?
Consumer goods (p) – Get the report The giant posted gains that exceeded Wall Street estimates on Wednesday and raised its outlook for the fiscal year as higher demand for cleaning and health care products increased revenue by 8% more.
Cramer said you have to be careful with P&G because they didn’t give a robust conference call. When you have a stock like P&G and it has grown so much, you have to be very careful. The decline in US consumption from December to January really affects this stock. Don’t touch him today. “
Executive orders will be issued by Biden
On his first day in office, President Joe Biden is expected to sign 17 executive actions – 15 will be executive orders, some of which will reverse the decisions made by his predecessor, President Trump, media reports suggest.
Cramer said orders could be positive for different types of stocks. “You don’t want to be in oil stocks because they will be much more regulated. If he doesn’t let anyone drill anymore, then he goes to the incumbent officials. And you would just go buy Chevron. (CLC) – Get the report and Pioneer Pioneer. There will be a premium for anything that does not pollute. “
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