Jim Cramer on Market Highs, Trump's Tweets on Libra, and Amazon Prime Day
It's finally Friday!
Jim Cramer tackles the market highs and how investors should react to them, Trump's tweets about Facebook's Libra, and what investors should watch for during Amazon's Prime Day.
What's Going on in the Markets?
The market is still riding the highs from Federal Reserve Chair Jerome Powell's testimony in front of the House Financial Committee earlier this week.
"We're learning that interest rates -- that the neutral interest rate -- is lower than we had thought and I think we're learning that the natural rate of unemployment is lower than we thought," Powell said.
"So monetary policy hasn't been as accommodative as we had thought." The S&P 500 hit 3,000 on Wednesday--the first day of Powell's testimony.
Then the Dow hit 27,000 Thursday.
Facebook's Libra Real Money Stock of the Day Facebook is facing backlash from President Donald Trump and Powell.
Trump tweeted Thursday night to say that Facebook would need to attain a Bank Charter for Libra and he expressed his dislike of cryptocurrencies--such as Bitcoin.
And, that tweet followed Powell's comments on Libra.
During his testimony, Powell said that he had "serious concerns" about Libra.
Amazon Prime Day It's that time of year again!
Amazon's annual Prime Day--which is an even bigger sale than Black Friday or Cyber Monday for Amazon--is kicking off Monday, July 15 and this year, the event is even more special because it'll go through Tuesday, July 16.
Are you pumped yet?
If you aren't, then you should check out some of the headlines surrounding the sale.
Celebrities such as Lady Gaga, Mark Wahlberg, Kristin Bell, and Kobe Bryant are all collaborating with Amazon to sell their products during the two-day sale.