Jim Cramer advised investors be ready for a 'rocky week' after Dow drops 650 points

"Get comfortable, because this is going to be a rocky week," CNBC's Jim Cramer said. Subscribe to CNBC PRO for access to investor and analyst insights: https://cnb.cx/2Vtntx6

CNBC’s Jim Cramer on Monday advised that investors brace themselves for the coming days after the major averages all tanked to open the trading week.

“Get comfortable, because this is going to be a rocky week,” the “Mad Money” host said.

Cramer recommended investors be patient and put together a game plan as the market discounts stocks in a turbulent week ahead. He pointed out five themes where market players can look to put money to work.

“With Covid raging and no stimulus in sight, we’ve got five bull markets that work here: 5G, digitization, hygiene, home renovation and cars,” he said. “You need to be disciplined and start buying them into weakness.”

The Dow Jones Industrial Average shed 650 points for a 2.29% fall to 27,685.39. The S&P 500 gave up 1.86% of its value to close at 3,400.97 while the Nasdaq Composite pummeled 1.64%.

The Dow turned in its worst session since September, though the 30-stock index closed more than 300 points off its session lows. Wall Street was marked by a surge in coronavirus cases and ongoing coronavirus spending negotiations that have influenced the market for weeks.

Investors are also counting down the days to the highly anticipated General Election, which is a week away. President Donald Trump is campaigning across the country to cut the lead that his challenger, Joe Biden, is enjoying in the polls in most battleground states, including Pennsylvania, Michigan and Wisconsin, according to Real Clear Politics.

Tom Lee of Fundstrat Global Advisors echoed Cramer’s sentiments earlier in the day, blaming what appears to be “diminishing optimism” on stalled negotiations in Washington, the coronavirus situation in the country and the uncertainty surrounding the election.

Lee warned that the Trump administration could kick the can down the road on another coronavirus spending bill, should Biden win the White House, which could pressure the market through the end of 2020. He does, however, see a relief rally in the cards after the election is called.

“Every day we hear about the stimulus talks. I wish they’d stop talking because at this point all they’re doing is creating false hope and America doesn’t want false hope,” Cramer said.

» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision
» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC
» Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic

Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.

The News with Shepard Smith is CNBC’s daily news podcast providing deep, non-partisan coverage and perspective on the day’s most important stories. Available to listen by 8:30pm ET / 5:30pm PT daily beginning September 30: https://www.cnbc.com/2020/09/29/the-news-with-shepard-smith-podcast.html?__source=youtube%7Cshepsmith%7Cpodcast

Connect with CNBC News Online
Get the latest news: http://www.cnbc.com/
Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC
Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC
Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC
Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC


https://www.cnbc.com/select/best-credit-cards/

#CNBC
#CNBCTV

Видео Jim Cramer advised investors be ready for a 'rocky week' after Dow drops 650 points канала CNBC Television