Stocks wobbled Tuesday despite optimism over a U.S. recovery had stocks in the S&P 500 and Nasdaq mostly flat.
U.S. retail sales in February declined more than forecast as winter storms in Texas and the southwest halted consumer spending.
TheStreet’s Katherine Ross and Jim Cramer discussed breaking news in the stock market. Cramer spoke about chipmaker AMD, stimulus checks and markets on Tuesday.
Advanced Micro Devices: Buy Or Sell?
Cramer said Advanced Micro Devices stock, which was down 8%, is a buy. “AMD is loved by clients like Google Cloud Services, Azure, Tencent. “AMD owns this space, they partner with everybody. AMD has a path through which they are getting deeper and more intertwined with these companies. Their chips are faster and cheaper and you can’t beat that.”
The stimulus bill, including $1,400 checks to American households and $300 in enhanced unemployment benefits, was signed into law by President Joe Biden on March 11.
Cramer advised people with debts to use their stimulus checks to first pay off those debts, on credit cards or otherwise, before investing in stocks. “The problem is if you don’t, they’ll still be there.”
Markets on Tuesday
Cramer applauded the Reddit investors on WallStreetBets who got it right with GameStop. “My goal is to identify common themes like a GameStop (GME) – Get Report or an AMC (AMC) – Get Report and help people as more stimulus checks come in.”