On Tuesday’s “Morning Meeting” livestream, the CNBC Investing Club with Jim Cramer discussed the decline in U.S. stocks, continuing a poor start to the second quarter. This is a significant shift from the market’s strong performance in the first quarter, where the S & P 500 saw a 10% increase, its best start to the year since 2019. Despite the Short Range Oscillator indicating that the market is no longer overbought, factors such as bond yields, higher oil prices, and downbeat earnings are weighing on the market. The Club remains patient, looking for bargain buying opportunities while being willing to wait. Citigroup raised its price target for Eli Lilly, citing growth prospects for the company’s GLP-1 drug franchise.
Microsoft recently announced that it would be selling its Teams messaging and video app separately from its Office suite worldwide, a move that could potentially impact its business negatively. While this development is unfortunate for Microsoft, it presents an opportunity for competitors like Salesforce, which owns the Teams rival Slack. In 2020, before being acquired by Salesforce, Slack had accused Microsoft of anticompetitive behavior in a complaint to regulators. The Club holds shares in Microsoft, Salesforce, and Eli Lilly, among others.
As a subscriber to the CNBC Investing Club with Jim Cramer, members receive trade alerts before Jim makes a trade. Jim follows specific guidelines before executing a trade, waiting 45 minutes after sending a trade alert or 72 hours if he has discussed the stock on CNBC TV. It is important for subscribers to adhere to the terms and conditions, privacy policy, and disclaimer of the Investing Club. No fiduciary obligation or duty exists purely based on receiving information from the Club, and specific outcomes or profits are not guaranteed.
The market’s recent downturn presents challenges for investors, but also potential opportunities for bargain buying. With patience and strategic decision-making, the Club intends to navigate the current market conditions and capitalize on favorable investment prospects. Citigroup’s optimistic outlook on Eli Lilly reflects the belief in the company’s growth potential, particularly through its GLP-1 drug franchise. Meanwhile, Microsoft’s decision to separate Teams from Office could impact its competitive standing, benefiting rivals like Salesforce and Slack.
Overall, the CNBC Investing Club with Jim Cramer remains vigilant in monitoring market trends and identifying investment opportunities. By staying informed and following established guidelines for trading, members can make informed decisions and potentially maximize their investment returns. As the market continues to evolve, maintaining a strategic approach and adapting to changing conditions will be key to success in the current investment landscape. The Club’s focus on patience, diligence, and disciplined trading practices sets the foundation for successful investment strategies in the dynamic and fluctuating market environment.
