As part of the plan, Amazon has agreed to purchase 100,000 electric delivery vans from vehicle manufacturer Rivian.Technologyread more
The plan will allow Medicare to negotiate lower prices on as many as 250 drugs and apply those discounts to private health plans.Health and Scienceread more
Hedge fund titan Leon Cooperman said he's concerned about a shift to the left in the political landscape, which could harm the economy and the stock market.Delivering Alpharead more
Microsoft has new services that can provide gaming revenue on top of console sales.Technologyread more
Nelson Peltz and David Taylor, once adversaries over the direction of Procter & Gamble, met Thursday as allies taking a victory lap for the company's stunning turnaround.Delivering Alpharead more
More than half of the patients have been younger than 25 and 16% are younger than 18, CDC principal deputy director Anne Schuchat said.Health and Scienceread more
Billionaire investor Leon Cooperman on Thursday said he believes that the Federal Reserve is "screwing the savers."Delivering Alpharead more
President Donald Trump on Thursday filed a lawsuit against Manhattan District Attorney Cyrus Vance Jr. and his longtime accounting firm Mazars.Politicsread more
Trian Partners co-founder and CEO Nelson Peltz explained to CNBC on Thursday the backstory to his firm's position in struggling General Electric.Delivering Alpharead more
Here's a look inside Apple's flagship Fifth Avenue Store, known as the "cube," in New York City. It reopens on Friday and has been closed since 2017 for renovations.Technologyread more
CNBC's Jim Cramer found Wednesday's market sentiment to be somewhat nearsighted about the potential catalysts that could drive stocks higher.
"We've got to take a step back and look at the bigger picture here, because that's what helped power today's rally," the "Mad Money" host said.
"The fourth-largest city in the [United States] has been taken offline, but for the most part, the state and local authorities actually seem to have it under control," Cramer said. "While Harvey has been a real tragedy for the millions caught in its path, the natural disaster hasn't been accompanied by any man-made catastrophes like we saw during [Hurricane] Katrina. Trump's visit to Texas didn't turn out to be a fiasco. If anything, it was workmanlike [and] gave us a glimpse of the 'can do' business side of the president that we haven't seen much of lately."
Now, Cramer expects potentially tens of billions of federal dollars to flood Texas as the waters recede, especially because it is such a largely Republican state.
The massive reclamation project in Houston will likely deliver a boost to an array of companies related to rebuilding, the "Mad Money" host said.
From companies dealing in homebuilding materials — think Weyerhaeuser, Louisiana-Pacific and USG — to road aggregates — Martin Marietta Materials' wheelhouse — to roofing — the specialty of Owens Corning and Beacon Roofing — Cramer is anticipating a lift across the board.
"The rebuilding effort will be so enormous that, while the hit to the U.S. economy from Houston short-term going offline will be noticeable, it will also be very ephemeral compared to what will happen when the reclamation project begins," the "Mad Money" host said.
"This could even extend to a spike in autos and truck sales, as the Houston Automobile Dealers Associated says there could be half a million vehicles damaged by the storm," Cramer continued. "Can they be replaced? Of course, because they have insurance, which means there'll be lots of new orders, something Warren Buffett also hinted at today when he mentioned the liabilities of his own auto insurer, Geico."
Cramer said the main difference is how organized and under-control the post-Harvey rebuild will be versus the reconstruction post-Katrina, which, in some areas, is still ongoing.
Moreover, President Donald Trump's handling of the disaster, including his visit to Texas, was both hands-on and on-message, a boon to the market in itself, Cramer said.
His lack of off-message remarks translated into a lack of abstractions for investors, which caused health care and technology stocks to rise on hopes of Trump's health care and repatriation policies finally being back on the table.
"Granted, that's an element of wishful thinking I've just laid out. But a president who acts presidential is worth a couple of percent on the upside; a president who acts peeved, to put it diplomatically, ends up hurting his own cause as well as the market," Cramer said. "The bottom line: President Trump, you want higher stock prices? You focus on the country, all of the country, as it attempts to help America's fourth-largest city get back on its feet again."