Stocks traded higher Thursday after the Federal Reserve indicated it wasn’t close to ending its accommodative policy. The S&P 500 looked set to make another record, propelled by a rally in big technology stocks.
TheStreet’s Katherine Ross and Jim Cramer discussed breaking news in the stock market. Cramer spoke about rising subscriber numbers at Costco, freedom vs imprisoned stocks and markets on Thursday.
Costco: Buy Or Sell?
Costco (COST) – Get Report shares edged higher Thursday amid a host of Wall Street upgrades following stronger-than-expected March sales data from the bulk discount retailer.
Cramer said people would pay more money for a subscription stream at companies like Costco, Netflix (NFLX) – Get Report Apple (AAPL) – Get Report and Disney (DIS) – Get Report. “Costco has got tremendous renewals because it’s just so much cheaper and that’s how the company really makes its money. When I see they’re opening a lot of new stores that means a lot of new members.”
Freedom Vs. Imprisoned Stocks
Markets on Thursday
Cramer said he does not like the market today because once again the stay-at-home and highest growth stocks are doing well. “That’s because we have interest rates going down precipitously, just not conducive to most stocks in the NYSE going higher,” said Cramer.