CNBC’s Jim CramerAccording to him, he does not feel confident buying in Monday’s initial stock market rally after Friday’s omicron driven plunge. The selling could continue in the case of negative future news regarding the Covid variant, which is highly mutated.

The Dow Jones Industrial Average — which had been up nearly 400 points, or more than 1%, shortly after Wall Street’s open — gave up some of those gains. However, S&P 500And the NasdaqThey were able to hold onto most of the gains they made in their first session, moving up roughly 1% and almost 1.5% respectively. The stock benchmarks all fell more than 22% Friday, and were lower this week.

Cramer claimed that “Squawk on the Street,”He said before Monday’s close that he was betting on science. Future reformulated Covid vaccinations, as well as promising oral treatments to combat the effects of omicron, are some examples.

“I’m returning as being hopeful. But not today. The market is growing and there are the same people purchasing today. “If they see someone who has landed in the U.S.A and has an omicron variant,” the seller says. “Mad Money”Host said. “We must be careful against unscrupulous sellers.”

There are no confirmed cases of Omicron infection in the U.S. Infections have also been discovered in South Africa (where the variant was initially identified), Israel, Belgium and the Netherlands.

ModernaCNBC’s CEO Stephane Bancel said that he believes omicron is present in most nations. I believe that most countries who have flown direct from South Africa within the past seven to ten days have known cases that are not in their control.

Bancel PfizerIn separate statements, CEO Albert Bourla stated “Squawk Box”Interviews Monday revealed that companies were working on omicron vaccines in the hopes of getting them out by next year.

Bourla said he expectsPfizer’s Covid pill is effective in fighting the omicron variation. He said that the company is now planning to make 80 million pills, an increase of its 50 million goal.

MerckCovid is being developed as well.

“You listen to Bourla and Bancel … and you come back and say, ‘Look these guys are the people you have to bank on.’ Cramer stated that they are scientists. That could be interpreted as “these people solve it”, and then investors sell, they have to purchase back “much higher.”