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‘Old guard’ of investors is back in charge

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Investors are exhibiting optimism around the Covid vaccine rollout, CNBC’s Jim Cramer said, and it fueled a rally in U.S. stocks Friday.

The Dow Jones Industrial Average added 453.40 points, or 1.4%, while the broad S&P 500 advanced 1.7% to close at a record. The tech-heavy Nasdaq, after being down 0.8% at one point, finished the trading day higher by 1.2%.

“Virtually every sector saw aggressive buying except for the once-hot, very-expensive and hard-to-understand tech stocks,” the “Mad Money” host said. “I think it’s all about the ‘Great Reopening’ as the United States will have received 240 million vaccines by next week from Moderna, Pfizer and J&J as they ramp up.”

The increased vaccine…



Source cnbc.com

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