Shares rose on Friday, while China’s rising stock gave investors other reasons to believe in a growing post-pandemic recovery.
Katherine Ross and Jim Cramer from TheStreet discussed the latest news on the stock market. Cramer spoke about Pfizer, rising tensions between the US and China and markets on Friday.
Pfizer: Buy or sell?
Pfizer (FE) – Get the report Executive director Albert Bourla told CNBC that people taking the drug giant’s COVID vaccine will “probably” need a third dose of it within a year of the second.
Vaccinations may be needed each year, he said. Bourla made the comments on April 1, but they were broadcast on Thursday.
Cramer said he doesn’t hate Pfizer’s actions as much as he used to. “But I wouldn’t change Abbott’s labs (ABT) – Get the report, Eli Lilly (LLY) – Get the report, Bristol Myers Squibb (BMY) – Get the report and AbbVie (ABBV) – Get the report for Pfizer, “Cramer added.
USA vs. China
Cramer, in his real money column, wrote Friday morning that he sees “no way to improve relations.” [between the U.S. and China] and many to make things even hotter. “
Cramer said the Chinese have now decided that we are now a pathetic and helpless giant. “And they want to come after us with everything they have. Former Vice President Mike Pence gave a very lively speech in 2018 about what the Cold War is like here. And the Chinese are more aggressive than us,” Cramer added.
Markets on Friday
Cramer said it was a profitable day in the markets. “There were some profits that were certainly taken, not on the basis of something negative, neither on the stock market, nor on the bond market,” Cramer said.
When it comes to cryptocurrencies, Cramer said he expects Bitcoin to decline because there was a lot of shopping before Coinbase (CURRENCY) – Get the report IPO.
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