X

Jim Cramer Targets 'Clueless' Buyers as Stocks Keep Rising

On the bright side, the S&P 500 rose yet again
By Newser Editors and Wire Services
Posted Aug 5, 2020 3:55 PM CDT

(Newser) – Stocks closed higher on Wall Street Wednesday, lifting the S&P 500 to its fourth straight gain and pulling it within 2% of the all-time high it set in February, the AP reports. Companies that rely on consumer spending, banks, industrial, and technology stocks accounted for a big share of the gains, which helped nudge the Nasdaq composite to a record high. Treasury yields and gold prices rose. In detail:

story continues below

  • The S&P 500 rose 21.26 points, or 0.6%, to 3,327.77.
  • The Dow Jones Industrial Average climbed 373.05 points, or 1.4%, to 27,201.52.
  • The Nasdaq composite added 57.23 points, or 0.5%, to 10,998.40.
  • The Russell 2000 index of small company stocks gained 29.02 points, or 1.9%, to 1,546.24.

But CNBC's Jim Cramer wasn't impressed, saying "clueless" buyers are driving up the market with unfounded enthusiasm: "Sometimes the market rallies and it makes perfect sense," he said, per MarketWatch. "Then there are days like today, when I can't take how stupidly bullish this market can be."

(Read more Wall Street stories.)

We use cookies. By Clicking "OK" or any content on this site, you agree to allow cookies to be placed. Read more in our privacy policy.