Stocks were mixed Monday with the Dow Jones Industrial Average setting another record high but the Nasdaq tumbling 2% on renewed anxiety over the prospects of higher inflation.
TheStreet's Katherine Ross and Jim Cramer discussed breaking news in the stock market. Cramer spoke about Amazon and Walmart, how to trade steelmaker Nucor and markets on Monday.
Amazon and Walmart
Cramer said Walmart and Amazon are very different from each other and it's ok for investors to own both stocks. "Walmart is a fantastic brick-and-mortar retailer that's using its stores as distribution centers. Amazon has other distribution centers. Both are trying to do same-day delivery. To own two companies that are doing e-commerce, that's not conflicting," added Cramer.
Nucor: Buy Or Sell?
In his Real Money column "This Group of Stocks Make Up the Anti-Inflation Trade" Cramer refers to Nucor (NUE) - Get Report as the "lowest cost and best steel company in the world" and says the name "can keep going higher."
Cramer said you need steel to do any of the things involved with infrastructure and Nucor is the country's largest steel company. "So, they benefit. Nucor is up on a spike and I don't like to buy stocks that are up on a spike. I like to sell stocks that are up on a spike," said Cramer.
Monday's Market
Cramer said it is noticeable that if you're in a Nasdaq stock listed on the New York Stock Exchange you're being crushed. "There's no way that you can own these stocks and not feel a tremendous amount of pain. But you made a lot of money so maybe you can still take something off the table," said Cramer.
Amazon and Walmart are key holdings in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer adds or removes stocks from his portfolio? Learn more now.
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May 11, 2021 at 02:34AM
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Stock Market Today With Jim Cramer: Own Amazon and Walmart - TheStreet
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