The CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream every weekday at 10:20 a.m. ET. On Thursday, U.S. stocks bounced back after early week losses, with tech stocks like Microsoft and Apple showing strength. All 11 sectors in the S&P 500 were in the green, and the Treasury market calmed down with the yield on the 10-year Treasury slightly lower ahead of the monthly U.S. jobs report on Friday. Jim Cramer advised against speculating too much on the Federal Reserve’s next policy move, stating that they will make as many cuts as necessary without guessing.
Wynn Resorts shares climbed 1.8% on Thursday after Mizuho Securities initiated coverage with a buy rating and a $131-per-share price target, suggesting around 23% upside. Analysts were optimistic about the company’s prospects, particularly in Macau, and the Club had already added to its position in late February at nearly $102 a share. Jefferies raised its price target for Meta Platforms stock to $585 per share from $550, anticipating continued share gains in the advertisement market in 2024. The firm also increased its price target for Amazon to $225 a share from $190, citing excitement around the e-commerce and cloud-computing giant.
Subscribers to the CNBC Investing Club 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 TV. It should be noted that the information provided is subject to the Club’s terms and conditions, privacy policy, and disclaimer, and no fiduciary obligation or duty is created by receiving the information. There is no guarantee of a specific outcome or profit from the information provided in connection with the Investing Club.
Investor concern over the Federal Reserve possibly keeping interest rates higher for longer had dampened the market at the start of the second quarter. However, Jim Cramer advised against speculation and emphasized the importance of not guessing when it comes to the Fed’s policy moves. In terms of individual stock picks, Mizuho Securities initiated coverage on Wynn Resorts with a buy rating and a $131-per-share price target, expressing optimism about the company’s prospects in Macau. Jefferies raised its price target for Meta Platforms and Amazon, citing favorable factors that could drive their share prices higher in the future.
Members of the CNBC Investing Club with Jim Cramer receive trade alerts before Jim makes a trade, with a waiting period of 45 minutes before executing the trade. After discussing a stock on CNBC TV, Jim waits 72 hours before buying or selling a stock in his charitable trust’s portfolio. It is important to note that the information provided by the Investing Club is subject to their terms and conditions, privacy policy, and disclaimer, and no specific outcome or profit is guaranteed. The Club continues to monitor and analyze market trends and individual stock performances to inform its investment decisions and provide valuable insights to its members.
