Stocks are rising as Joe Biden is inaugurated as the 46th president of the United States on Wednesday. Here are the best stocks to buy for the Biden presidency.
TheStreet’s Katherine Ross and Jim Cramer discussed the latest news in the stock market. Cramer spoke about Ford, Procter & Gamble’s earnings and the soon-to-be-announced executive orders by President Biden.
Ford: Buy or Sell?
Ford shares rose on Wednesday after Deutsche Bank added the carmaker to its short-term buy list.
Investment firm analyst Emmanuel Rosner made the move because he expects government spending on infrastructure and vehicle electrification to rise under the new Joe Biden administration.
Cramer said the automotive sector, which is part of remote work, is key to keeping track of Biden’s government in the first 100 days. “People do not understand that we are now in a hybrid society because we tasted the idea of not going to the office and we do not want to go back. So, people who have jobs and commute are perhaps something of “In the past, especially with a president who is anti-fossil fuel. Distance work is Ford and GM. I prefer Ford and it was a remarkable winner. Because of Jim Farley, he’s run Ford.”
Procter & Gamble: Buy or Sell?
Consumer goods (PG) – Get report Giant earnings exceeded Wall Street estimates on Wednesday, raising its outlook for the fiscal year as higher demand for household and health care products boosted revenue by 8%.
Cramer said one should be careful with P&G because they did not give a solid conference call. If you have a stock like P&G and increase it so much, you have to be very careful. The decline in US consumption from December to January is hurting this stock. Do not touch it today. ‘
Executive orders to be issued by Biden
Pres. Joe Biden is expected to sign 17 executive actions on his first day in office – 15 will be executive orders, some of which reverse decisions taken by his predecessor, President Trump.
Cramer said the orders could be positive for different types of stocks. “You do not want to be in the oil supplies because it will be much more heavily regulated. If he does not let anyone drill anymore, it will go to the incumbents. And you would just go buy Chevron. (CVX) – Get report and Pioneer Pioneer. There is a premium on anything that does not pollute. ‘
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