Morning Bell With Jim Cramer: Don’t Buy McCormick

Dow futures hold near 30,000 extends declines ahead of Thanksgiving as stocks hit a record high following yesterday’s rally on Wall Street that lifted the Dow Jones Industrial Average past the 30,000 point mark for the first time in history.

In the last episode of Mad Money, Jim Cramer asked his viewers “How can the Dow Jones Industrial Average be hitting all-time highs while hospitals are overflowing with COVID patients?” Well, the markets’ surge to new heights stems from 10 “tipping points” which have been driving its momentum, he said.

TheStreet’s Katherine Ross and Cramer are talking about buying McCormick and oil stocks, and Joe Biden’s choice of Janet Yellen as prospective Treasury Secretary.

McCormick Stock: Buy or Sell?

Spice specialist McCormick  (MKC) – Get Report agreed on Tuesday to acquire the parent of Cholula Hot Sauce from private-equity firm L Catterton for $800 million cash.

McCormick called hot sauce a high-growth category and said Cholula will pair well with its portfolio of seasonings and other products.

Cramer said that investors shouldn’t buy McCormick after a COVID-19 vaccine is delivered because it is one of the stocks that may not be robust as they are when there is a “pandemic rage.”

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