Shares rose on Friday as China’s growth provided investors with other reasons to believe in a growing post-pandemic recovery.
Katherine Ross and Jim Cramer of TheStreet discussed the latest news on the stock market. Cramer spoke of Pfizer, rising tensions between the US and China and markets on Friday.
Pfizer: Do you want to buy or sell?
Pfizer (PFE) – Get the report Executive President Albert Bourla told CNBC that people taking the drug giant’s COVID vaccine will “probably” need a third dose in a year after the second.
It may have been necessary to make vaccines every year, he said. Bourla made the comments on April 1, but they were aired on Thursday.
Cramer said he doesn’t hate Pfizer shares as much as before. “But it wouldn’t change Abbott Laboratories (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 Friday morning wrote that he sees “no way to improve relationships [between the U.S. and China] and many to make things even hotter. “
Cramer said that now the Chinese have decided that we are now an unfortunate and helpless giant. “And they want to come after us with everything they have. Former Vice President Mike Pence in 2018 delivered a very lively speech about what the Cold War is like here. And the Chinese are more aggressive than us,” Cramer added.
Markets Friday
Cramer said it has been a day with profits in the markets. “There have been some benefits that have certainly been taken not based on anything that is negative in either the stock market or the bonds,” Cramer said.
As for cryptocurrency, Cramer said he expects Bitcoin to go down because there were a lot of purchases ahead of Coinbase (CURRENCY) – Get the report IPO.
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