“This market’s badly in need of another stimulus package,” the “Mad Money” host said. Subscribe to CNBC PRO for access to investor and analyst insights:
CNBC’s Jim Cramer on Friday took a look at the week ahead for Wall Street and gave his thoughts on the newsiest events marked on his calendar.
“I know it’s not a huge news week, but this market’s badly in need of another stimulus package,” the “Mad Money” host said. “I think the next move hinges on whether or not Congress can get its act together to pass something, an event the market needs to break out of its doldrums.”
The comments come after the stock market toiled through a mixed day of trading to close out one of the most volatile weeks for stocks in months.
The Nasdaq Composite was the only major index to fall during the session, slipping 0.6% to 10,853.54 at the close as Big Tech stocks continued to decline from record highs.
The S&P 500 inched up just 0.05% to 3,340.97, and the 30-stock Dow moved up 131.06 points for a 0.48% growth to 27,665.64.
The S&P 500 experienced its worst week since late June and its second-straight weekly loss for the first time since May. The tech-heavy Nasdaq dropped more than 4% this week, its steepest decline since March.
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