Stocks are on the rise as Joe Biden is inaugurated on Wednesday as the 46th US president. These are the best stocks you can buy for Biden’s presidency.
Katherine Ross and Jim Cramer from TheStreet discussed the latest stock market news. Cramer spoke about Ford, Procter & Gamble’s winnings, and President Biden’s soon-to-be-announced executory orders.
Ford: buy or sell?
Ford’s stock rose Wednesday after Deutsche Bank added the automaker to its short-term buy-back list.
The investment firm’s analyst, Emmanuel Rosner, took the step because he expects government spending on infrastructure and vehicle electrification to increase under Joe Biden’s new administration.
Cramer said the auto industry, which is part of remote work, will be key to keep an eye on in the first 100 days of the Biden administration. “People don’t understand that we’re in a hybrid society now because we’ve tasted the idea of not going to the office and we don’t want to go back. So people who have jobs and commute can be a thing of the past , especially with a president who uses anti-fossil fuel. Remote work is Ford and GM. I prefer Ford and it’s been a remarkable winner. Because of Jim Farley, Ford drives. “
Procter & Gamble: buy or sell?
Consumer goods (PG) – Request report The giant posted a profit on Wednesday that exceeded Wall Street estimates and raised its outlook for the fiscal year as increased demand for household cleaning and healthcare products drove sales up 8%.
Cramer said one needs to be careful with P&G because they haven’t had a robust conference call. If you own a stock like P&G and it has risen that much, you have to be very careful. The decline in US consumption from December to January is really hurting this stock. Don’t touch it today. “
Execution orders to be issued by Biden
On his first day in office, President Joe Biden is expected to sign 17 executive actions – 15 executive orders, some of which will reverse decisions made by his predecessor, President Trump, media reports suggest.
Cramer said the orders could be positive for a variety of stocks. “You don’t want to be in the oil supplies because they’ll be much more heavily regulated. If he doesn’t let anyone drill anymore, it goes to the incumbents. (CVX) – Request report and Pioneer Pioneer. There will be a premium for everything that does not pollute. “
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