TheStreet's Action Alerts PLUS Portfolio Manager Jim Cramer comments on Starbucks' (SBUX) appointment of a new CEO to oversee its China expansion. He said that YUM! Brands (YUM) also hired a China CEO, which helped with multiple expansion in the region. Starbucks expects to have 5,000 store locations in China by 2021, according to media reports. Starbucks shares lost 11% since the start of the year. Belinda Wong has been named CEO of Starbucks China. China's economy grew 6.7% in third quarter, in line with analysts' estimates.
More from Video
How quickly do we find support, is what we'll want to know now, as the correction is occurring while economic optimism builds.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.