Curious about the market reaction to G-20?
Jim Cramer takes a look at the market possibilities as the G-20 summit gets underway in Argentina on Friday, Nov. 30.
But, the G-20 summit isn’t the only thing on Cramer’s mind. Here’s what else he’s looking at.
The New NAFTA
On Friday morning, Trump signed a new deal to replace NAFTA. TheStreet’s Martin Baccardax reported on the signing.
President Donald Trump formally signed his intention to pursue a three-way trade deal between the United States, Canada and Mexico Friday at the G20 summit in Argentina that will replace the existing NAFTA.
The re-vamped deal, which was hammered out after months of tense negotiations with Mexico’s Enrique Peña Nieto and Canada’s Justin Trudeau, was still being tweaked by all sides late last night, Canadian Foreign Minister Chrystia Freeland said Thursday, amid concerns over the failure to remove tariffs on steel and aluminum imposed by the White House earlier this year.
Trump called the United States-Mexico-Canada Agreement (USMCA) “very historic” and said he was looking forward to working with Congress to finalize the agreement, insisting he didn’t think passing it would be a problem.
“With our signatures today we will formally declare our intention of our three countries to replace NAFTA with the USMCA, a truly ground-breaking achievement,” Trump said. “This deal will help stop auto jobs from going overseas and will bring back auto jobs that have already left. Many many jobs are already planning to come back.”
Cramer discusses why he prefers the new deal to NAFTA.
Breaking Down Cramer’s Interview With PVH CEO
On Mad Money Thursday night, Cramer sat down with Manny Chirico, CEO of PVH.
Chirico said PVH just delivered another strong quarter and they continue to see growth ahead for their many brands. He said jeans continue to be a problem area for Calvin Klein, but overall there’s nothing fundamentally wrong with the brand and it has great consumer recognition around the globe.
PVH has seen a great start to the fourth quarter, Chirico added, and Tommy Hilfiger is not seeing any slowdowns in the U.S. or in Europe. Sportswear also continues to sell well going into the holiday season.
When asked about the elephant in the room — tariffs — Chirico said that PVH is a big company and tariffs could total $70 million. That’s only 7% to 8% of their cost of goods sold, he said, and supply chains can be moved, but it will take some time for that to happen. Chirico noted the sad fact is that consumers will be the ones most hurt by tariffs.
PVH is Real Money’s stock of the day.
Time to Buy Canopy Growth?
In the Ask Cramer segment, Cramer was asked whether or not now is the time to buy Canopy Growth.
Cramer said that he believes that yes, now is the time.
Ask Cramer
Got a question about the market? Reach out to @KatherineRooss on Twitter or email her at [email protected] for a chance to have Cramer answer your question.
SUBSCRIBE |
___
We don’t have a crystal ball, but we do have @JimCramer and @MarcChaikin and they’re talking the markets on November 7. Join in on the conversation here:
You can also find us on…
ACTION ALERTS PLUS |
FACEBOOK |
TWITTER |
PODCASTS |
THESTREET.COM |
LINKEDIN |
INSTAGRAM |
Sign up for ActionAlertsPlus.com today for exclusive insight into Jim Cramer’s charitable portfolio:
source
