Raphael Stevens

White House officials told reporters Tuesday that China hasn’t been “completely transparent” in the global investigation into the origins of Covid-19, and that a full investigation is needed to determine whether the virus that’s killed almost 3.5 million people came from nature or a lab.”We need to get to the bottom of this, whatever the answer may be,” White House senior Covid-19 advisor Andy Slavitt told reporters at a Covid briefing Tuesday. “We need a completely transparent process from China, we need the [World Health Organization] to assist in that matter and we don’t feel like we have that now.”The theory that Covid-19 escaped from the Wuhan Institute of Virology was initially dismissed by most medical experts and health officials as a conspiracy theory, but credible scientists continue to question the true origin of the disease.Members of the World Health Organization (WHO) team investigating the origins of the Covid-19 coronavirus pandemic leave The Jade Hotel on a bus after completing their quarantine in Wuhan, Chinas central Hubei province on January 28, 2021.HECTOR RETAMAL | AFP | Getty ImagesA previously undisclosed U.S. intelligence report found that researchers at the institute in Wuhan, where the outbreak originated in late 2019, sought hospital care after falling ill “with symptoms consistent with both Covid-19 and common seasonal illness,” The Wall Street Journal reported Sunday, quoting from the report.While it’s more likely the coronavirus jumped from an animal to humans, “we don’t know 100% the answer to that,” the White House’s chief medical advisor, Dr. Anthony Fauci, told reporters during the same briefing call Tuesday. “It is imperative that we do an investigation.”Last week, Centers for Disease Control and Prevention Director Dr. Rochelle Walensky acknowledged that it is “one possibility” that Covid-19 leaked from a lab.Peter Ben Embarek and Marion Koopmans (R) arrive at a press conference to wrap up a visit by an international team of experts from the World Health Organization (WHO) in the city of Wuhan in China’s Hefei province on February 9, 2021.HECTOR RETAMAL | AFP | Getty ImagesThe WHO has said that the virus likely came from an animal host, but the agency has not ruled out the possibility that it leaked from a lab.”Some questions have been raised as to whether some hypotheses have been discarded,” WHO Director-General Tedros Adhanom Ghebreyesus said. “I want to clarify that all hypotheses remain open and require further study.” More

Commerce Secretary Gina Raimondo on Tuesday expressed confidence around the Biden administration’s efforts to increase semiconductor manufacturing in the U.S.In an interview on CNBC’s “Mad Money,” Raimondo said the global chip shortage that’s rattled a range of industries demonstrates the need for America to boost domestic production capacity and once again become a leader. Asian countries, particularly Taiwan, have come to dominate the industry.”We are going to get it done. There’s no option,” Raimondo told host Jim Cramer. “When the semiconductor supply chain is disrupted, the economy is disrupted.””They’re in your dishwasher, your car, your computer, your headset, your phone, military equipment. So, yes, we’re going to get it done,” she added, describing it as both an economic and national security imperative.Senate Majority Leader Chuck Schumer, D-N.Y, has put together the United States Innovation and Competition Act of 2021 that would allocate $52 billion to support semiconductor manufacturing in the country, among other provisions.While Democrats and Republicans are still hashing out disagreements over certain components of the bill, there is bipartisan support for tackling the set of issues it covers.Raimondo said she hopes it passes the upper chamber “in the coming days,” offering an optimistic timeline similar to Schumer. “This cannot wait,” said Raimondo, who served as governor of Rhode Island before leading the Commerce Department.”This requires emergency appropriation … and I believe that there is the will in the Congress to make that happen,” she added.Raimondo also weighed in on the potential infrastructure proposal a group of Senate Republicans plan to offer as a counter to President Joe Biden’s plan. Raimondo has taken part in some of the negotiations in Washington.”I don’t know what’s in the offer. We have to see if it’s real, but the very fact that we’re still talking and they’re coming back with, potentially, a $1 trillion deal is progress for sure,” she said.Questions for Cramer? Call Cramer: 1-800-743-CNBCWant to take a deep dive into Cramer’s world? Hit him up! Mad Money Twitter – Jim Cramer Twitter – Facebook – InstagramQuestions, comments, suggestions for the “Mad Money” website? [email protected] More

In this articleATVITTWORBLXTechnical indicators show a trio of video game stocks — Roblox, Take-Two Interactive and Activision Blizzard — are well-suited to make runs to the upside even as the economy reopens from the pandemic, CNBC’s Jim Cramer said Tuesday.The “Mad Money” host’s analysis is based on charts from technician Bob Lang, the founder of ExplosiveOptions.net and a contributor to Cramer’s financial news website, TheStreet.com.RobloxZoom In IconArrows pointing outwardsInfographic from CNBC’s Mad MoneyCNBC Mad MoneyRoblox, which went public in March, has two bullish technical metrics on its side, Cramer said. The first is that the stock has been setting higher lows and higher highs, he said, which “means you’ve got a healthy uptrend.”The momentum indicator known as the Relative Strength Index also shows that Roblox shares are not yet overbought.”Currently Roblox is trading at $89; Lang thinks this thing could be smooth sailing to $100, and then $120 by the end of the year,” Cramer said. “It’s easily his favorite name in the group. I agree with him.”Take-Two InteractiveZoom In IconArrows pointing outwardsInfographic from CNBC’s Mad MoneyCNBC Mad Money”To Lang, it’s looking like Take-Two just made a ‘W’ pattern … and that means it could have a substantial move upward, as long as the right side of that base gets carved out, and that’s what’s going to happen here,” Cramer said.While it’s not clear whether institutional money managers are jumping into shares of Take-Two, Cramer said Lang’s analysis shows bullish volume in the stock overall.”Putting it all together, Lang wouldn’t be surprised if Take-Two first … gets hit with a pullback to $170, but longer-term he sees this stock headed higher, perhaps all the way back to its old highs around $215,” Cramer said. “If we get a pullback, you must buy this stock.”Activision BlizzardZoom In IconArrows pointing outwardsInfographic from CNBC’s Mad MoneyCNBC Mad MoneyAfter losing its momentum in February, along with a number of other stay-at-home winners, Activision appears to be gaining steam based on Lang’s analysis. For example, Cramer said a trading indicator called the moving average convergence/divergence flashed a buy signal earlier this month.”If the stock can break out over its ceiling of resistance at $98, up less than two bucks from here, then Lang believes that breakout can take this thing all the way to a new 52-week high of $110,” Cramer said.Questions for Cramer? Call Cramer: 1-800-743-CNBCWant to take a deep dive into Cramer’s world? Hit him up! Mad Money Twitter – Jim Cramer Twitter – Facebook – InstagramQuestions, comments, suggestions for the “Mad Money” website? [email protected] More

Landing of an Aeromexico La Laguna airline plane at Mexico City International Airport.Gerrardo Vieyra | NurPhoto | Getty ImagesThe Federal Aviation Administration downgraded its air safety rating for Mexico, prohibiting that country’s carriers from adding service to the U.S., the agency said Tuesday.The decision is a new headache for airlines operating from the U.S. to Mexico, popular routes during the coronavirus pandemic as Mexico didn’t issue travel restrictions like many other countries did.Mexican carriers can continue to operate existing service with the lower rating, but they can’t add new service or routes. U.S. airlines, meanwhile, cannot sell tickets that are operated by Mexican carriers with the U.S. airline’s name on it, a measure known as code-sharing.Mexico’s Federal Civil Aviation Agency fell below the standards of the United Nations’ civil aviation organization following an assessment conducted between October and February, the FAA said.Issues the assessment found included an insufficient number of inspectors and laws that didn’t do enough to ensure independence of the regulator by insulating it from political interference, according to a person familiar with the matter.The Mexican aviation agency could not immediately be reached for comment.The FAA said it would work with its Mexican counterpart to improve its rating.Delta Air Lines, which has a code-sharing agreement with its partner Aeromexico, said its service to Mexico is operating normally.”For customers who have booked a flight with Delta that is operated by Aeromexico, Delta may reissue their reservation onto the corresponding Aeromexico-operated flight,” the Atlanta-based airline said in a statement. “Delta apologizes for any inconvenience this may cause our customers, and will continue to coordinate with Aeromexico to minimize any disruptions.”Aeromexico didn’t immediately comment.”The first thing I want everybody to know is we believe Aeromexico is incredibly safe, and this is not about Aeromexico,” Delta’s president, Glen Hauenstein, told a Wolfe Research conference earlier Tuesday. “This is about the Mexican version of the FAA and about having some of the right protocols in place.”Airlines have more than 21,000 flights scheduled between the U.S. and Mexico this month, a similar number to 2019, according to data from aviation data firm Cirium. Aeromexico has 693 flights scheduled. More

In this articleNCLHRCLUALAALCCLMGMCZRDALThe travel trade is gaining ground.Major cruise line, hotel and airline stocks were some of the top performers in the S&P 500 on Tuesday, the latest uptick in a group still clawing its way back toward its pre-pandemic levels.Norwegian Cruise Line Holdings, Royal Caribbean, Carnival, MGM Resorts, Caesars Entertainment, United Airlines, Delta and American Airlines are among the index’s biggest gainers this week.Though cruise lines still have significant debt loads, two of their stocks could be worth considering for a trade, Danielle Shay, director of options at Simpler Trading, said Tuesday on CNBC’s “Trading Nation.””We are going to see cruise liners starting to sail again,” Shay said. “The cruise liners are still beat down, which means that you still have some upside.”Royal Caribbean, Carnival and Norwegian Cruise are respectively 33%, 44% and 47% below their pre-Covid highs from January 2020.”I think you have about $30-$40 of upside in both Norwegian and Royal Caribbean, and with these in particular, the at-the-money call options are cheap,” Shay said.She suggested looking out to the January 2022 or January 2023 at-the-money LEAP call options on either stock. LEAP, or Long-Term Equity Anticipation Securities, options can be used by longer-term traders as a replacement for buying shares of a stock.”You have a cheap option there, and if you trade that looking for the stock to rise to pre-pandemic levels, you have quite a bit of upside there,” Shay said.With U.S. consumers flush with savings — $3 trillion in excess versus a year ago — this resurgence won’t die down anytime soon, Steve Chiavarone of Federated Hermes said in the same “Trading Nation” interview.”We’ve been locked in our homes staring at screens for the better part of a year, so, the answer in terms of what we like on this theme is all of the above — it’s airlines, it’s casinos, it’s cruise liners, it’s restaurants. It’s really the whole group of them,” said Chiavarone, a portfolio manager, equity strategist and vice president at his firm.Active management is key to success here, however, Chiavarone said.”Because you are facing price pressures and you do have capacity constraints in terms of labor, you really want to go in with thoughtful stock selection here,” he said. “Buy companies with good balance sheets, the ability to have efficiencies, pricing power, so that they can benefit in the rising price environment and gain share.”Disclosure: Shay is long Norwegian and Carnival.Disclaimer More

In this articleJWNA pedestrian and cyclist wear facemasks outside a branch of department store chain Nordstrom in Santa Monica, California on May 11, 2020.Frederic J. Brown | AFP | Getty ImagesNordstrom reported Tuesday better-than-expected first-quarter sales, as shoppers showed up to its stores again to buy new shoes, sunglasses and swimwear for social outings.But its stock tumbled around 7% in extended trading as the retailer booked a wider-than-expected loss, and maintained its full-year outlook, despite other retail rivals boosting their forecasts in recent days.Management said elevated labor and shipping costs, in addition to supply chain constraints in the apparel industry, are creating continued pressure on its business.Here’s how Nordstrom did during the period ended May 1, compared with what analysts were anticipating, using Refinitiv data:Loss per share: $1.05 vs. 57 cents expectedRevenue: $3.01 billion vs. $2.90 billion expectedNordstrom reported a loss for the period ended May 1 of $166 million, or $1.05 per share, compared with a loss of $521 million, or $3.33 a share, a year earlier. That was bigger than the loss of 57 cents per share that analysts were anticipating, based on Refinitiv data.It reported total revenue of $3.01 billion, up from $2.12 billion a year earlier. That beat expectations for $2.90 billion.Net sales, which don’t include credit card revenues, were up 44% from the year-ago period, when Nordstrom’s stores were closed for roughly half the quarter due to restrictions put in place during the Covid pandemic. But net sales were down 13% relative to the same period in fiscal 2019.The company said it has added 20% more items for shoppers to choose from, compared with two years ago, as it invests more in the home, active and kids categories.For Nordstrom’s full-price brand, net sales rose 37% compared with a year earlier, but were down 13% from 2019. Nordstrom Rack’s net sales increased 59% year over year, but were also down 13% on a two-year basis.GlobalData Retail Managing Director Neil Saunders pointed out that Nordstrom Rack’s results lag those of rivals TJX and Ross Stores, both of which have returned to pre-pandemic sales levels.”The whole off-price segment is in the midst of a significant growth spurt as the consumer economy opens back up,” Saunders said in a note to clients. “In our view, Nordstrom Rack is simply not participating in this boom to the same degree as others.”Nordstrom’s digital sales rose 23% from 2020 levels, and were up 28% compared with the same period in 2019. Nordstrom said its e-commerce business represented 46% of total sales in the latest quarter.The rate of people completing their purchases was up 15% from 2019 levels, Nordstrom said, as more customers came to its website and stores with the intent of buying something.CEO Erik Nordstrom cited ongoing strength at both its Nordstrom stores and its off-price Nordstrom Rack business that targets more cost-conscious customers, for the year-over-year sales growth. He said the company is optimistic about being able to capitalize on “pent-up demand” during the summer months ahead.The company’s annual Anniversary Sale is timed for the second quarter this year, he added, which should align with more Americans returning to pre-pandemic activities and refreshing their wardrobes.Still, the department store chain reaffirmed its fiscal 2021 outlook that calls for revenue growth of more than 25%. It also anticipates digital will drive half of its business by year end.Retailers Macy’s and Kohl’s both recently reported first-quarter earnings that beat Street estimates and hiked their respective 2021 outlooks.”While there is still considerable uncertainty with respect to Covid-19, we remain confident in our ability to deliver on our targets for 2021 and generate profitable sales growth as demand recovers,” CFO Anne Bramman said in prepared remarks.As of market close Tuesday, Nordstrom shares are up about 17% year to date. It has a market cap of $5.8 billion.Find the full earnings press release from Nordstrom here. More