Shares of the large payments firm PayPal (NASDAQ: PYPL) traded about 1.15% higher as of 3 p.m. ET after a Wall Street analyst said he thinks the stock has been oversold. The harsh, rising interest-rate environment and the bleak economic outlook have crushed tech stocks this year, and PayPal has not been spared, with its stock down more than 56% this year. Shortly after, PayPal withdrew the language and said it had made a mistake, but shares are down more than 9% this week after a #DeletePayPal hashtag started trending on Twitter. Read More...
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Jim Cramer Says Stocks Will Climb Once Fed Signals Shift; Here Are 2 Names to Watch
Inflation is high, the Fed is aggressively hiking interest rates, and the markets keep testing their lows for the year. The rest of this week will see several key monthly reports, including the consumer price index, or the inflation report, on Thursday. Currently, inflation is up 8.3% since last year, and economists are expecting that number to decline to 8.1%. Jim Cramer, the well-known host of CNBC’s ‘Mad Money’ program, is finding a silver lining in the current situation, telling investors, “
