While the S&P and the Nasdaq were attempting to stay in the green on Tuesday, the Dow was wobbling.
This comes after Democrats introduced an article of impeachment in the House of Representatives on Monday against President Trump. The article charges him with “incitement of insurrection” following insurrectionists storming the Capitol and forcing the building into a lockdown with U.S. lawmakers, journalists, and staffers all locked inside.
House Democrats said they plan to vote on impeaching Trump on Wednesday unless he resigns or Vice President Mike Pence invokes constitutional authority to remove Trump from office. Pence has indicated he would reject demands from the House.
There’s a little over a week left until President-elect Joe Biden’s inauguration.
So, looking at stocks, what’s on Jim Cramer’s mind?
For those saying value can’t be found on Wall Street as stocks continue to reach new highs, Jim Cramer has a name to give another look. “Let’s stop talking about how there are no bargains in this market and start buying the Action Alerts PLUS holding Ford (F) – Get Report,” Jim Cramer said.
Cramer said Ford’s move to shut down manufacturing in Brazil is testament to positive changes in the company under CEO Jim Farley.
In the video below, Jim Cramer and Katherine Ross talk Amazon (AMZN) – Get Report, Walmart (WMT) – Get Report, Zoom (ZM) – Get Report, Signet (SIG) – Get Report, the JPM Healthcare conference and everything moving markets Jan. 12.
Late Monday, he penned a Real Money column that focused on what he learned while in line at…Best Buy.
Yes, you read that right. Cramer pointed out that pre-pandemic, a line outside of a retailer would have been a bad sign. But during the pandemic, it’s a good sign.
“So we go to Best Buy in Vauxhall and there’s a line 20 deep to get in. I wait my turn — passing a sign that says they are out of Sony (SNE) PlayStation 5 and Xbox (MSFT) Series X/S — and when I get up to the front of the line, I ask the guy at the door what’s the deal. He says that you can’t mill around in the store, that you have to have a customer service rep with you and they only have so many customer service reps. The lack of a crowd protects you and protects the customer salespeople,” Cramer wrote.
“[Lisa] was apoplectic. Why? Because they care about their customer service people and their customers. What’s wrong with that? Man, was she ever accentuating the positive. Me? I figured this one has to be a short. But, before I can even open the book on it, the stock takes off. Given that everyone who went to a Best Buy may have experienced a similar line, you have to figure that’s a negative worth affirming. It’s plain as the nose on you face,” he wrote.
Daniel Kuhn contributed reporting to this article.