Instagram Pushes Pause, Oil Prices Bounce, Supply Chain Woes Worsen

Carl Quintanilla, Jim Cramer and David Faber began the show with a look at the market action, with the S&P on pace for its worst month since Oct. 2020. The anchors also looked at the jump in energy prices, after Goldman Sachs raised its forecast on Brent crude oil saying it will hit $90 by year-end as supply tightens. Facebook making headlines this morning as well, announcing it is pausing work on ‘Instagram Kids’ after facing backlash. Despite saying this is a “very big change,” Jim Cramer said the news will have little to no impact on Facebook’s stock price. Also in focus: Jim Cramer highlighted Best Buy ($BBY) for ‘Stop Trading’ after Piper Sandler named the retailer as a “top idea.”