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Jim Cramer: Stock market winners overshadow the need for more government aid to small businesses
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CNBC’s Jim Cramer said Tuesday that the strength of the stock market winners is obscuring harsh economic realities that exist across a U.S. economy that’s been ravaged by the coronavirus pandemic.
And with Covid-19 cases rising in states across the U.S. and the prospects of additional stimulus from Washington looking dim, the “Mad Money” host said the ”‘A Tale of Two Cities’ economy” is rearing its head once again.
“The visible stories are almost all positive. The negative stories are mostly hidden, at least when it comes to the stock market,” Cramer said. “The losers are being crushed by the virus. The winners either benefit from it or can survive it to come out the other side with fewer rivals.”
Cramer’s comments came after the Dow Jones Industrial Average closed higher by 140 points, or 0.5%, rebounding following a 509-point decline Monday. The S&P 500 and Nasdaq Composite gained 1.1% and 1.7%, respectively, the first gains for those indexes in five days.
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