Government Shutdown Could Help Bank Stocks?
The White House and the U.S. Congress have until Friday to reach agreement on an elusive federal spending-cut bill — or face a partial shutdown of the U.S. government beginning the next day.
Should the government shut down, banking and market regulators might experience difficulty in implementing last year's Dodd-Frank laws. Cramer said any delay in the implementation of financial regulation would help bank stocks. He thinks Congress can't afford to meddle with FinReg, so long as a possible government shutdown looms near. For that reason, he's bullish on JPMorgan Chase.
Meanwhile, the "Mad Money" host noted Macy's shares soared on Wednesday.
"Macy's is one of those companies that people continue to want to bet against and I think that has proven to be a sucker's game just like TJX and Ross Stores ," Cramer said. "You don't want to bet against those three."
—Reuters contributed to this report
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