The CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream every weekday at 10:20 a.m. ET. On a recent Thursday, U.S. stocks took a hit as Wall Street reacted to softer-than-expected gross domestic product data and ongoing concerns about inflation. The first-quarter GDP figures showed a significant slowdown in growth, confirming Jim Cramer’s belief that the U.S. economy is facing challenges. All three major U.S. stock indexes were down more than 1%, and the benchmark 10-year Treasury yield reached its highest level in over five months. Jim noted that the Federal Reserve may need assistance in dealing with inflation, as rate hikes have not been effective.
Ford Motor stock dropped 1.6% despite the company reporting better-than-expected quarterly results the previous evening. Jim expressed his belief that Ford’s stock should not have decreased, given the positive updates shared by management regarding the firm’s full-year outlook and lower capital expenditure guidance. Honeywell International also saw its stock decline by 2% after posting a beat on quarterly earnings and revenue. Jim suggested that the stock should be higher based on the results, with a full breakdown of the report expected later on Thursday. Additionally, Goldman Sachs upgraded TJX Companies to a buy rating from hold, citing the company’s ability to capture market share as consumers seek value and variety in products.
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Overall, the recent Morning Meeting livestream highlighted the challenges facing the U.S. economy, with concerns about inflation and slower growth impacting the stock market. Despite positive earnings reports from companies like Ford Motor and Honeywell International, stock prices did not necessarily reflect the results. Jim Cramer provided insights and analysis on these developments, including the implications for the Federal Reserve’s monetary policy. Additionally, the upgrade of TJX Companies by Goldman Sachs demonstrated the potential for market share growth in a changing consumer landscape. The CNBC Investing Club with Jim Cramer offers trade alerts and guidance to subscribers, following specific guidelines to ensure transparency and accountability in trading decisions. Members are encouraged to review the terms and conditions, privacy policy, and disclaimer associated with the Investing Club.
