Cramer makes the call on viewers' favorite stocks.
Stocks closed with solid gains, though well off their highs, amid strength in the financial sector and a big decline in oil prices.
Stocks turned higher, pushed upward by credit card companies despite some less-than-stellar economic reports and news that oil supplies took a dramatic and unexpected slide.
Stocks turned higher, pushed upward by credit card companies despite some less-than-stellar economic reports and news that oil supplies took a dramatic and unexpected slide.
For the week ending Friday, May 9, 2008, the U.S. Markets were negative for the week, with the Dow falling more than 200 points on Wednesday, making it the biggest point drop since 4/11/08.
Risk aversion is definitely back today. You can see it in the dollar/yen, where the yen has really strengthened today. The AIG news (down 8 percent) told us that a lot of the bad news is still not priced in. Big momentum stocks like Visa, Mastercard, Nucor, US Steel, Anadarko, Apache, Bidu, Apple, and Google all saw profit-taking today. But here's the big problem: oil closing up five straight days, closing at a new high.
The once-great stock picker is no Warren Buffett, Cramer says.
Cramer makes the call on viewers' favorite stocks.
Q: On Fast Money’s trader radar we look at the stock that was lighting up screens across Wall Street. The colors in this San Francisco based company's logo represent the blue sky and the California mountains. And just as life takes this company’s card, at the Olympic games it’s the only card accepted. Who is it?
For the week ending Friday, May 9, 2008, the U.S. Markets were negative for the week, with the Dow falling more than 200 points on Wednesday, making it the biggest point drop since 4/11/08.
Material and energy stocks got back some of their lost mojo today, despite a dollar rally. The big debate is how much of the commodity run up is due to supply/demand issues, and how much is due to the weak dollar (which of course stimulated demand for commodities).