'That's how we could have some solid action today,' the 'Mad Money' host said.
While big wigs in Washington are sprinting to corral another coronavirus spending package, Wall Street is shrugging off the development of the measure, CNBC's Jim Cramer said Wednesday." host said. "That's how we could have some solid action today."
The Dow Jones finished the session up 35 points at 27,816.90 for a gain of 0.13%. The benchmark S&P 500 rose 0.53% to 3,380.80, and the tech-heavy Nasdaq Composite, which was the only one of the three to retain most of its gains on the day, rallied 1.42% to 11,326.51. "As far as the stock market's concerned, we don't need no stinking stimulus, and that's absolutely true for your portfolio, but it's necessarily not true for America," he said.
House Democrats have proposed a new $2.2 trillion plan, down from a $3 trillion bill the chamber approved this summer. Mnuchin reportedly proposed a $1.6 trillion bill, which is up from the $1.3 trillion the Trump administration had pushed for.Small businesses and families are in dire need of more stimulus as they remain upended by the economic toll of the stringent lockdown earlier this year and ongoing social distancing orders.
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