The CNBC Investing Club holds a “Morning Meeting” livestream each weekday at 10:20 a.m. ET with Jim Cramer. On a recent Monday, Wall Street was lower, giving back some of the gains from the previous Friday due to several factors, including a rise in U.S. government bond yields and escalating tensions in the Middle East driving up oil prices. Analyst downgrades on companies like Amazon and Apple were also impacting market sentiment. Despite this, shares of Morgan Stanley and Wells Fargo were rising, benefiting from strong advances on Friday in response to positive jobs data. Jim Cramer argued that a slow-and-steady approach to rate cuts by the Federal Reserve could be beneficial for the economy and bank stocks.
Jim Cramer identified Abbott Laboratories as a stock worth buying on future weakness following a positive development in the company’s court battles over its premature infant formula. Despite losing a case in late July, the FDA, CDC, and NIH issued a statement supporting the use of specialized baby formulas for premature infants, potentially removing a litigation risk for Abbott Labs. If this risk were to diminish, Jim believed the stock could climb back above $120 a share. Stocks covered in the “rapid fire” segment of Monday’s meeting included Pfizer, American Express, KB Home, Netflix, and Air Products and Chemicals. Subscribers to the CNBC Investing Club with Jim Cramer receive trade alerts before Jim makes a trade, with specific timeframes for executing trades based on when a stock is discussed on CNBC TV.
Despite the market’s downward trend on Monday, Jim Cramer remained optimistic about the long-term potential of certain stocks. He advised against chasing the rally in energy stocks and highlighted the importance of a slow-and-steady approach to rate cuts by the Federal Reserve. Bank stocks like Morgan Stanley and Wells Fargo were performing well, benefiting from positive economic data. Jim identified Abbott Laboratories as a stock worth buying on future weakness, citing a recent positive development in the company’s court battles. The rapid fire segment of the meeting covered various stocks, with subscribers receiving trade alerts before Jim makes a trade. It is important to note that participation in the CNBC Investing Club with Jim Cramer is subject to terms and conditions, privacy policy, and disclaimer, and no specific outcome or profit is guaranteed.
Overall, the Monday Morning Meeting of the CNBC Investing Club with Jim Cramer provided insights into the current market trends and potential investment opportunities. Despite some negative factors impacting the market, Jim remained positive about the long-term prospects of certain stocks, including Abbott Laboratories. Subscribers to the club receive trade alerts before Jim makes a trade, with specific guidelines for when trades are executed. The meeting highlighted the importance of a cautious approach to rate cuts by the Federal Reserve and the potential benefits for bank stocks in a stable economic environment. The rapid fire segment covered a variety of stocks, providing additional investment ideas for members to consider. It is important for participants to be aware of the terms and conditions governing their involvement in the club, as well as the inherent risks and uncertainties associated with investing.
