After Wall Street digested more positive coronavirus vaccine news and investors grew more optimistic on the reopening trade, CNBC’s Jim Cramer on Monday unveiled a list of “return to normalcy” stocks.
“I think you have to buy a couple of these vaccine winners on any weakness, although when it comes to retail, I just say buy some, period, because there’s no time to wait for a dip,” the “Mad Money” host said.
The comments come after AstraZeneca, in collaboration with the University of Oxford, said earlier in the day that its Covid-19 vaccine candidate was up to 90% effective at preventing contraction of the disease that has led to hundreds of thousands of deaths in the U.S. It was the third drugmaker this month to announce positive data in its vaccine study.
The news buoyed stocks, with the Dow Jones rallying nearly 328 points, or 1.1%, to a 29,591.27 close. The S&P 500 was lifted 0.6% to 3,577.59 and the Nasdaq Composite, full of tech components, climbed 0.2% to 11,880.63.
“No matter what, I’d pick two or three of these names, then wait for the next piece of bad news that freaks people out so you can buy them into weakness,” Cramer said.
“If you just owned the stay-at-home names, you got bushwhacked today. But don’t worry, I think you’ll get another chance to pick up some of these vaccine winners at lower levels.”
Disclosure: Cramer’s charitable trust owns shares of Mastercard, Honeywell International, Walt Disney, DuPont and Boeing.