Devastating Wildfires Send Consumers Flocking to Home Depot, Says Jim Cramer

Jim Cramer is asked about the economic impact of the wildfires that are burning the West coast and how this could hurt a U.S. economy that’s already hurting because of the coronavirus pandemic.

Currently, there are fires burning in California, Oregon, and Washington. Over 500,000 people have been told to evacuate in Oregon. 

Cramer noted that Home Depot has been “a rocket” lately. Here’s what he had to say about Home Depot a couple of days ago in his Real Money column.

“The rails were insane Wednesday. Could it be the note we got from a research firm that Federal Express (FDX) could beat the estimates? Is it that China’s very strong and there’s a lot of intermodal traffic? Again, no particular reason,” Cramer wrote in his Real Money column on Wednesday night. “Or how about Home Depot (HD) , Lowe’s (LOW) , Walmart (WMT) , Costco (COST) , Target (TGT) ? I can grasp at straws: California’s a huge state for retailers and its Covid cases are plummeting. Interest rates remain low. Or, did these companies have an amazing Labor Day and we just don’t know it. Or, at least, many of us don’t know it.”

“It’s frustrating to see so many winners without being able to pin down exactly why. We have plenty of people now who think the economy is awakening. They were in their buying. We have just as many who think that Covid’s coming right back. They were buying,” he continued. 

You can follow Jim Cramer and Katherine Ross on Twitter at @JimCramer and @byKatherineRoss. Read more from Katherine Ross here.

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