The stock market's not a referendum on the state of the nation, it's a market of stocks, the "Mad Money" host said. Subscribe to CNBC PRO for access to investor and analyst insights: cnb.cx/2Vtntx6
CNBC’s Jim Cramer on Thursday explained how stocks rallied on back-to-back days, despite the insurrection on Capitol Hill Wednesday that was inspired by President Donald Trump.
One key to the market rally, according to Cramer, is the removal of uncertainty for future-minded investors. While chaos erupted, shutting down the nation’s Capitol complex, the presidential election results have been approved and the legal fights are over, he said.
“We see the chaos in Washington, but many believe the storming of the Capitol will be the highwater mark of discord. The election is finally over, the results are certified, the challenges are finished. There’s a possibility of unity after years of polarization,” said the “Mad Money” host, who presented a more somber tone than his usual upbeat self.
As a mob of ardent Trump supporters descended on and took over Congress, disrupting confirmation of Joe Biden’s presidential victory, Wall Street appeared to be unphased by the scene as major averages hit new highs.
Not only will Biden, a Democrat, be inaugurated to the office in less than two weeks, he’ll enjoy a party majority in both the House and Senate. Democrats Raphael Warnock and Jon Ossoff defeated the Republican incumbents in Tuesday’s Georgia Senate runoffs, tilting the Senate chamber in their party’s favor.
The two victories follow Biden’s electoral victory in Georgia, becoming just the second Democrat to win the state in more than four decades.
“Whether you love Trump or hate him, there’s no denying that he’s a divisive figure, but that’s by choice,” Cramer added. “Two weeks, and he’s out of a job.”
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Негізгі бет Jim Cramer: 10 reasons why the market rallied, despite chaos in Washington
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