It’s almost Turkey Day!
Stocks were mostly lower in intraday trading on Wednesday–the day before Thanksgiving–and a day after the Dow Jones Industrial Average and S&P 500 closed at record highs, and following weekly jobless claims that rose in consecutive weeks for the first time since the summer.
Stocks finished higher Tuesday and the Dow closed above 30,000 for the first time as President-elect Joe Biden was given the go-ahead to formally begin his transition and Wall Street bet on more fiscal stimulus as reports said former Federal Reserve Chair Janet Yellen would be nominated for Treasury secretary (and the first woman to ever fill that role).
The number of Americans filing for first-time unemployment benefits rose to 778,000 in the week ended Nov. 21, up from a revised 748,000 the previous week and ahead of economists’ forecasts of 730,000.
Jim Cramer discussed his plans for Thanksgiving (there’s some drama about a green bean casserole…) and what he’s grateful for this holiday season. Surprise! It’s younger investors.
“I’m thankful for the young people joining us and buying individual stocks and caring and doing the homework…I am very grateful they have discovered the stock market,” Cramer said during his daily live interview with TheStreet Tuesday.
Cramer joked that the renewed interest in individual stocks, rather than index funds, is keeping him on air.
Cramer also discussed why he thinks that Yellen, and Federal Reserve chair Jerome Powell will be a financial power duo, saying that he was very impressed on the reported choice of Yellen.
Watch Cramer’s take on all of the above and more in the video below:
Daniel Kuhn contributed reporting to this article.
Latest Videos From TheStreet:
Why Do Investors Care About Black Friday?
Best Black Friday Deals: WalletHub’s Top 10 Retailers
Biggest Shopping Holidays of the Year in U.S.
Online Holiday Sales Could Shatter All Previous Records: Adobe Analytics
This article was originally published by TheStreet.