Growth stocks are set to a major beneficiary of a divided government,https://yummyfood101.com/how-to-plan-a-meal-around-seasonal-ingredients/
CNBC “Mad Money”
host Jim Cramer said Wednesday.
What Happened:
Cramer pointed to the likely-victory of former Vice President Joe Biden in the 2020 presidential election and a Republican-controlled senate as an indicator that Americans want a divided government.
“Finally, we can stop fretting about politics and start focusing on business and your money again, because a divided Congress and a blue White House ... is nirvana for growth stocks,” said Cramer.
The former hedge fund manager said the emerging situation will reduce the chances that lawmakers raise capital gains taxes as Biden had proposed in his tax plan.
Cramer observed that money managers had been dumping growth stocks in favor of more cyclical value names, anticipating a massive rise in federal spending in January.
“Sure enough, we’re now seeing a gigantic — maybe the largest I’ve ever seen — rotation back out of value and into growth in tech because the blue wave stimulus cavalry [is not] coming,” Cramer quipped.
Why It Matters:
The Mad Money host pointed to
Caterpillar Inc
(NYSE:
CAT
), whose stock fell more than 7%,to reinforce his message of a shift towards growth stocks.
Others such as
Honeywell International Inc
(NYSE:
HON
),
3M Company
(NYSE:
MMM
), and
JPMorgan Chase & Co
(NYSE:
JPM
), which according to the host benefitted from market rotation on Monday, also plunged during trading on Wednesday.
On the other hand, stocks of
Amazon.com, Inc
(NASDAQ:
AMZN
),
Facebook Inc
(NASDAQ:
FB
), and
Microsoft Inc
(NASDAQ:
MSFT
) — which all slipped into the red after posting quarterly results last week — surged by single digits in Wednesday’s trading.
Advanced Micro Devices
(NASDAQ:
AMD
) and
Apple Inc
(NASDAQ:
AAPL
) both rose more than 5%.
Cramer said the “electorate has spoken,” adding that there will be “a peaceful transfer of power” no matter who wins the election.
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【https://yummyfood101.com/how-to-plan-a-meal-around-seasonal-ingredients/】Growth Stocks To See 'Nirvana' With Blue White House, Divided Congress, Cramer Says
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