The CNBC Investing Club with Jim Cramer holds a daily “Morning Meeting” livestream at 10:20 a.m. ET to discuss the latest key moments in the stock market. Thursday’s recap highlighted a rise in U.S. stocks as the S & P 500 and Nasdaq Composite attempted to recover from a four-day losing streak. The market has been affected by investor reconsideration of interest rate cut expectations due to hotter inflation data and tensions in the Middle East. The S & P 500 Short Range Oscillator indicated that the market has moved further into oversold territory, prompting the club to put cash to work by purchasing shares of high-quality companies at more attractive valuations, such as Estee Lauder.
Abbott Laboratories shares were lower on Thursday after the health-care company’s post-earnings pullback. Despite reporting better-than-expected quarterly results and raising its full-year guidance for earnings per share and organic growth, concerns around premature infant baby formula litigation caused the stock to fall. The CNBC Investing Club sees these concerns as overblown, with no scientific data showing that Abbott’s formula causes illness. The club added to its position in Abbott Laboratories and is looking to buy more shares on additional weakness. Mizuho upgraded Linde stock to a buy from hold, citing its defensive and consistent earnings growth as reasons for potential stock outperformance. With Linde’s shares down about 6% since March, the club views this as a solid entry point for investors and believes it is a good strategy for navigating broader market sell-offs.
As a subscriber to the CNBC Investing Club with Jim Cramer, individuals receive trade alerts before Jim makes a trade. He waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio, and 72 hours after discussing a stock on CNBC before executing a trade. It is important to note that the club’s information is subject to terms and conditions, a privacy policy, and a disclaimer. There is no fiduciary obligation or duty created by receiving information from the club, and specific outcomes or profits are not guaranteed. Jim Cramer’s Charitable Trust is long on ABT, LIN, and EL, and a full list of stocks can be found on the website.
Overall, the CNBC Investing Club with Jim Cramer aims to provide insights and recommendations on stock market activities. By analyzing key moments and trends, the club helps investors make informed decisions on buying and selling stocks. The club’s approach involves scooping up shares of high-quality companies at more attractive valuations during market downturns, such as the recent oversold territory. By taking advantage of opportunities to buy quality stocks on sale, investors can potentially benefit from stock outperformance in the long run. Jim Cramer’s strategy of waiting before executing trades adds a layer of caution and consideration to the club’s investment decisions.
