Stocks were lower Tuesday and Treasury yields climbed as progress on the vaccine roll-out in the U.S. and President Joe Biden’s spending plans lifted optimism about a swifter economic recovery.
TheStreet’s Katherine Ross and Jim Cramer discussed breaking news in the stock market. Cramer spoke about Apple, Tesla and markets on Tuesday.
Apple: Buy Or Sell?
Shares of Apple (AAPL) – Get Report traded lower Tuesday after its biggest and most important supplier Foxconn cautioned that a ‘materials shortage’ could hit its supply chain in the coming months.
Cramer said Apple will likely go lower in the short term. “There are things that are not great right now. But you’ve got to take a longer-term view.”
Tesla: Buy or Sell?
Shares of Tesla (TSLA) – Get Report dropped early Tuesday after Chief Executive Officer Elon Musk said in a tweet that the near-term cell supply shortage makes it difficult to scale the production of the company’s Semi commercial truck.
Cramer said to look at Cathie Wood’s portfolio when it comes to Tesla. “I follow all her ETFs. They are moving up, they are not down. You want to watch those because they are barometers of what the millennials want.”
Markets on Tuesday
Despite the markets being in the red, Cramer was optimistic about the vaccination roll-out in the U.S. and added that there are stocks that are going to work. “Interest rates are receding from earlier this morning, which has worked for the market. Scrutinize the market and look for buying opportunities in the Nasdaq like Broadcom (AVGO) – Get Report.”