Stocks were lower Tuesday afternoon as Wall Street assessed the political turmoil in Washington and prospects for more stimulus to combat the coronavirus pandemic.
Jim Cramer discusses the latest stock market news including Amazon’s ad business, Deutsche Bank’s move to distance itself from Trump and why investors should buy Ford.
Amazon: Buy Or Sell?
Social-media company Parler, popular among right-wing users, sued Amazon (AMZN) – Get Report after the Seattle tech giant’s web-services cloud-hosting service dropped the platform on Sunday.
Cramer said Amazon’s advertising side of the business is exciting. “It’s a great place to advertise if you’ve got some goods that you want to sell. The fact that the stock keeps going down is indicative of people looking to buy some new hot stocks instead of old hot stock.”
Deutsche Bank: Buy Or Sell?
German lender Deutsche Bank (DB) – Get Report has decided not to do more business with President Donald Trump, Bloomberg reported.
Cramer said Deutsche Bank is a shadow of its former self. “They used to be a very important bank. They did a lot of bad lending including with the president. If you think that the president is right then it’s good lending. Most people who are in the business of numbers say it’s bad lending.”
Ford: Buy Or Sell?
Cramer said Ford is a value stock for investors to buy because it’s new leadership is changing the culture. “A guy like Jim Farley [Ford CEO] who is changing the culture and there is no clearer sign of that than shutting down manufacturing in Brazil. That has been an amazing thorn in the side of all the CEOs at Ford for a very long time. The possibility is going to come where we see Europe and Latin America no longer hurting Ford. And if that’s the case. Ford is going to put some very big numbers.”
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