After hours of marveling at the tape’s incessant march higher, CNBC’s Jim Cramer took a step back to check the market layout.
“What’s driving it? … Same as always: [a] stock shortage — it’s really been acute in the industrials — 401(k) money being thrown at the market, animal spirits, a stronger consumer, tax reform, deregulation and a general revaluation higher,” the “Mad Money” host said. “Who’s doing the leading? Once again, it’s Boeing, it’s Caterpillar, it’s Adobe, it’s Alphabet, it’s Apple, and it’s Netflix.”
Certainly, the layout can change. On Friday, shares of frequent market leader Facebook were taken down after CEO Mark Zuckerberg said he wanted to change its News Feed to promote “meaningful social interactions.”
But Facebook’s 4 percent decline failed to jolt the broader market, so Cramer gave investors his take on whether the social media giant’s stock is worth buying into weakness.
“Yes, but you’ve got to wait,” the “Mad Money” host said. “Come Tuesday afternoon, it will probably make sense – Tuesday, market’s closed Monday – to pick up some Facebook. By that point, the stock will have likely caught some more downgrades – this happened so quickly today they couldn’t downgrade it.”
With that in mind, Cramer rattled off the stocks and events he’s watching for his weekly gameplan.