The CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream every weekday, and on Tuesday, U.S. stocks were little changed as the market reacted to hotter-than-expected inflation data. While April’s producer price index came in above estimates, Jim Cramer argued that a negative revision to the March PPI offset the pressures in Tuesday’s print. The Club is now looking out for the consumer price index on Wednesday as it carries more weight in understanding the broader inflation trend. Meme stocks like GameStop made a return on Wall Street, but members are cautioned to avoid getting caught up in the craze as it could end poorly, as it did three years ago. Shares of Danaher rose nearly 2% on Tuesday, and Jim advised against offloading shares of the life-sciences firm due to recent momentum. The long-awaited turnaround in biotech industry funding and improvements in customer inventory levels were evident in Danaher’s earnings report, causing shares to surge 7.2% in a single session. The stock is now up more than 10% year to date.
Additionally, Amazon announced that the CEO of Amazon Web Services, Adam Selipsky, will step down in June. Although revenue for the cloud computing business was up 17% year over year in the first quarter, shares of the Club holding were lower by about 0.5% on Tuesday. Jim praised Selipsky’s performance, calling him a “titan,” and mentioned that Matt Garman, a long-time company veteran, will replace him as the CEO of AWS. As a subscriber to the CNBC Investing Club with Jim Cramer, one will receive a trade alert before Jim makes a trade. There is a waiting period of 45 minutes after sending a trade alert before buying or selling a stock in the charitable trust’s portfolio. If a stock has been discussed on CNBC TV, a 72-hour waiting period is observed before executing the trade. It is important to understand that the investing information provided by the Club is subject to their terms and conditions, privacy policy, and disclaimer. There is no fiduciary obligation or duty created by receiving information from the Club, and no specific outcome or profit is guaranteed.
In conclusion, the Morning Meeting livestream on Tuesday highlighted the impact of inflation data on U.S. stocks, the resurgence of meme stocks like GameStop, and the performance of companies such as Danaher and Amazon. Despite the mixed reactions in the market, Jim Cramer provided insights and advice for Club members to navigate these developments. The Club continues to monitor key economic indicators, earnings reports, and leadership changes in companies to make informed investment decisions. Subscribers have access to trade alerts and follow specific guidelines for executing trades within the charitable trust’s portfolio. It is essential for members to review the terms and conditions, privacy policy, and disclaimer provided by the Club to understand the limitations and risks associated with the investing information shared. With ongoing updates and analysis, the CNBC Investing Club with Jim Cramer aims to provide valuable insights and opportunities for its members in the dynamic world of investing.
