Shares rose on Friday as rising growth in China gave investors further reasons to believe in a rising recovery after the pandemic.
TheStreet’s Katherine Ross and Jim Cramer discussed the latest news in the stock market. Cramer spoke on Friday about Pfizer, the rising tensions between the US and China and the markets.
Pfizer: Buy or Sell?
Pfizer (PFE) – Get report CEO Albert Bourla told CNBC that people taking the drug giant’s COVID vaccine are likely to need a third dose within a year of the second one.
Vaccinations may be needed every year, he said. Bourla made the comments on April 1, but it was broadcast on Thursday.
Cramer said he does not hate Pfizer shares as much as he used to. ‘But I would not exchange Abbott Laboratories (ABT) – Get report, Eli Lilly (LLY) – Get report, Bristol Myers Squibb (BMY) – Get report and AbbVie (ABBV) – Get report for Pfizer, ‘Cramer added.
VS vs. China
Cramer wrote in his real money column on Friday morning that he sees ‘no way to improve relationships’ [between the U.S. and China] and a lot to make things even hotter. ‘
Cramer said the Chinese have now decided that we are now a pitiful, helpless giant. “And they want to haunt us with everything they have. Former Vice President Mike Pence gave a very lively speech in 2018 about how the Cold War is here. And the Chinese are more aggressive than we are,” Cramer added.
Markets on Friday
Cramer said it was a lucrative day in the markets. “There are some gains taken, certainly not based on anything negative in the stock or bond market,” Cramer said.
As for cryptocurrency, Cramer said he expects Bitcoin to fall because there were a lot of buys before the Coinbase. (COIN) – Get report IPO.
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