The CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream every weekday at 10:20 a.m. ET. On Monday, Wall Street opened lower, giving up some of the gains from Friday due to a rise in U.S. government bond yields. Oil prices also climbed higher on escalating tensions in the Middle East, leading to caution from Jim Cramer about chasing the rally in energy stocks. Additionally, a flurry of analyst downgrades, including for tech giants like Amazon and Apple, dampened sentiment. Shares of Morgan Stanley and Wells Fargo, however, rose modestly in response to the strong September jobs report and a healthy U.S. economy, with Jim noting that a slow-and-steady approach to rate cuts benefits bank stocks.
Jim highlighted Abbott Laboratories as a stock worth buying on future weakness due to a recent court victory regarding its premature infant formula. Despite facing litigation, Jim believes that if the risk goes away, the stock could recover to previous levels above $120 a share. In the rapid fire segment at the end of the meeting, stocks like Pfizer, American Express, KB Home, Netflix, and Air Products and Chemicals were covered. Subscribers to the CNBC Investing Club receive trade alerts before Jim makes a trade, with a waiting period of 45 minutes after the alert before executing the trade. If Jim discusses a stock on CNBC TV, he waits 72 hours before making a trade in his charitable trust’s portfolio. The information provided by the Investing Club is subject to terms and conditions, privacy policy, and disclaimer, with no guaranteed outcome or profit.
Monday’s session saw a trio of factors weighing on the market, including rising U.S. government bond yields, climbing oil prices, and a series of analyst downgrades affecting tech giants like Amazon and Apple. Despite the cautious sentiment, shares of Morgan Stanley and Wells Fargo rose as a result of the strong September jobs report and a healthy U.S. economy. Jim Cramer emphasized the benefits of a slow-and-steady approach to rate cuts, particularly for bank stocks. He also highlighted Abbott Laboratories as a stock worth buying on future weakness due to a recent court victory surrounding its premature infant formula battles.
In the rapid fire segment at the end of the meeting, stocks like Pfizer, American Express, KB Home, Netflix, and Air Products and Chemicals were discussed. Subscribers to the CNBC Investing Club receive trade alerts before Jim makes a trade, with waiting periods in place to ensure thoughtful decision-making. Jim’s approach to trading involves careful consideration and timing to maximize potential gains. The information provided by the Investing Club is governed by terms and conditions, privacy policy, and disclaimer, with no guaranteed outcomes or profits. Investors should exercise caution and conduct their own research before making any investment decisions.
