The Nasdaq is still under quite a bit of pressure on Tuesday, Feb. 23.
Both the S&P and Dow are also lower, but tech is the laggard in morning trading.
And Fed chair Jerome Powell is speaking on Capitol Hill to discuss interest rates, unemployment and a slew of other issues impacting the economy.
Live at 10:30 ET, Jim Cramer talks bitcoin, Tesla, Jerome Powell’s congressional testimony, Wells Fargo, Lucid Motors, ARK Invest, Medtronic and more in the video below:
Bitcoin is under pressure.
Tesla CEO Elon Musk implied that the price of bitcoin, as well as other cryptocurrencies, are extended.
Bitcoin took a hit over the weekend and into Monday after Musk suggested on Twitter that bitcoin and other cryptocurrency valuations “seem high.”
Tesla (TSLA) – Get Report does own some bitcoin.
And Wells Fargo (WFC) – Get Report is making some moves.
Wells Fargo said it will sell Wells Fargo Asset Management for $2.1 billion to the private equity firms GTCR and Reverence Capital Partners.
The company noted that after the deal closes, it will continue to own a 9.9% equity interest in the asset-management unit and continue to serve as a client and distribution partner.
So, what has Cramer’s eye?
“It’s not too late to make a bet on stocks that benefit from the reopening of our economy, Jim Cramer told his Mad Money viewers Monday. The reopening train is leaving the station with or without you, Cramer added, which makes now the perfect time to buy,” wrote TheStreet’s Scott Rutt in his Mad Money recap.
“You’re no longer early to these trades, Cramer admitted, but you’re not late either. These stocks may underperform until the economy reopens, but when it does, it may be too late to get in. Growth, Cramer concluded, never really goes out of style,” Rutt continued.
Curious about what Jim Cramer and his team at Action Alerts PLUS are watching in the markets? Watch Cramer’s exclusive members-only Daily Rundown show on Action Alerts PLUS following TheStreet Live.