Stocks rose Thursday as good domestic news outweighed more warnings about the EU. The major averages finished the day modestly positive after surging as much as 1 percent earlier. Those gains were given back after “hitting the wall that is Europe,” “Mad Money” host Jim Cramer said Thursday.
“This market is a tug of war between good news from the U.S., and horrific developments in Europe,” he said.
The day started upbeat, Cramer said, thanks to good news from a number of domestic names.
Novellus shares jumpeda day after Lam Research announced it would buy the chip maker. And Michael Kors shot up in its market debut, after management priced it to “reward” those who bought who paid for shares on the very morning they bought them, Cramer said.