Stocks traded higher on Friday and tech stocks rebounded after bond yields stabilized.
Katherine Ross and Jim Cramer of TheStreet discussed the latest news on the stock exchange. Cramer talked about how to trade Costco, the jobs report and the markets on Friday.
Costco: buy or sell?
Costco (COST) Shares – Get report It fell Friday after the wholesaler’s earnings missed analysts’ forecasts on costs related to higher wages workers received during the COVID-19 pandemic. Wall Street analysts were cutting their price targets for Costco.
Cramer said Costco is a buy and added that the retailer’s stock will go down. “It is not contradictory. I want to buy it on the way down. The company has 108 million members, will open a dozen stores, some in the United States, some around the world. Costco gives up everything it earns. “
The US economy added nearly 400,000 jobs last month, the Labor Department said Friday, triggering a renewed rise in government bond yields as investors bet on a faster post-pandemic recovery.
Cramer said the numbers do not indicate an economic recovery is underway as the unemployment rate of blacks rose to 9.9%. “It is unacceptable. We can’t be …
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