Jim Cramer explains why industrial and retail stocks made gains Thursday, even if the moves seeme counterintuitive.
Investors made a move on industrial stocks in anticipation that a U.S.-China trade agreement is near completion, CNBC's Jim Cramer said Thursday.
The world's two largest economies reportedly made progress in trade talks this week, and stocks gained on the news. The Dow Jones Industrial Average, powered by Boeing's nearly 3 percent rise, added more than 166 points on the session and the S&P 500 gained 0.2 percent for its first six-day winning streak in more than a year."While I'm very skeptical about these negotiations with China, because I know that [the U.S.
But China, in an effort to show good faith in trade negotiations, could be prepared to make a"statement buy" for a ton of Boeing planes, the host said. China could also buy equipment from Caterpillar, he said. Cramer said he was surprised that Deutsche Bank downgraded the stock on Wednesday.
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