The CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream every weekday at 10:20 a.m. ET, where key moments are discussed. On Tuesday, U.S. stocks were little changed as the market reacted to hotter-than-expected inflation data. The producer price index for April came in above estimates, complicating the timeline for Federal Reserve interest rate cuts. However, Jim Cramer pointed out that a negative revision to the March PPI offset the price pressures in Tuesday’s print. The Club is keeping an eye on the consumer price index on Wednesday for a better understanding of the broader inflation trend. Meme stocks like GameStop are making a return on Wall Street, but members are warned against getting caught up in the hype, as it could end poorly.
Shares of Danaher saw a nearly 2% increase on Tuesday, prompting Jim Cramer to advise against selling the stock based on recent momentum. The long-awaited turnaround in biotech industry funding and improvements in customer inventory levels were evident in Danaher’s earnings report last month, causing shares to surge 7.2% in a single session. The stock is now up more than 10% year to date, and investors are advised to listen for any updated commentary from management at a Bank of America health-care conference later that day. Amazon announced that the CEO of Amazon Web Services will step down in June, with revenue up 17% year over year in the first quarter. Shares of Amazon were lower by about 0.5% on Tuesday as investors reacted to the news, with Jim Cramer acknowledging the departing CEO’s remarkable job and understanding the dip in the stock price. A veteran of the company, Matt Garman, is set to replace the departing CEO.
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