Stocks in the Dow, Nasdaq and S&P 500 are all mixed today after the Federal Reserve meeting. The Fed left rates unchanged today and projected near-zero rates through 2022. Stocks in the Nasdaq are trying to hit new highs again today.
TheStreet’s Katherine Ross discussed today’s breaking news in the stock market on StreetLightning with Cramer. Cramer discusses buying Tesla shares before it hits new highs, buying Chewy stock after its earnings beat and picking between the Nasdaq and S&P 500.
Tesla Stock: Buy or Sell?
Tesla’s share price increased over $1,000 after Elon Musk signaled a volume production of commercial semi-trucks. TheStreet analyzed Tesla stock yesterday when $1,000 a share price was in sight. News of production in China returning to normal came out yesterday and TheStreet spoke about what that will mean for the company for the rest of 2020.
Cramer talks about what investors should do with Tesla today.
Chewy Stock: Buy or Sell?
Chewy reported earnings yesterday and beat earnings and sales estimates. Chewy (CHWY) – Get Report expects sales to continue to grow and offered guidance for the rest of the year. TheStreet provided a guide on how shares of Chewy can continue to go higher after earnings.
Cramer discusses what he would do with Chewy stock after their earnings beat.
Nasdaq vs. S&P 500
Investors consider the S&P 500 as the measuring tool for any portfolio. The question asked to many when traders building a portfolio is, “did your portfolio beat the S&P 500?” Last week, TheStreet reviewed the S&P 500 to see if the index can continue going higher and determined the S&P 500 is not overbought and has the momentum to keep rallying.
Cramer explains which index he would be betting on moving forward.
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