The CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream every weekday at 10:20 a.m. ET, where key market updates and insights are shared. On Tuesday, U.S. stocks declined, continuing a poor start to the second quarter after a stellar first quarter that saw the S & P 500 jump 10%, its best start since 2019. Market pressure from bond yields, higher oil prices, and downbeat earnings have weighed on stocks, but the Club is being patient and looking for bargain buying opportunities. Citigroup raised its price target for Eli Lilly to $895 per share, reflecting a nearly 18% upside, due to increased sales estimates for Eli Lilly’s not-yet-approved oral GLP-1 drug.
In a move that may impact Microsoft, the company announced it would sell its Teams messaging and video app separately from its Office bundle globally, due to scrutiny from European regulators. This decision is seen as negative for Microsoft but positive for Salesforce, which owns Teams rival Slack. Slack had accused Microsoft of anticompetitive behavior in a complaint to European regulators before being acquired by Salesforce. As a subscriber to the CNBC Investing Club with Jim Cramer, members receive trade alerts before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio, and waits 72 hours after talking about a stock on CNBC TV before executing a trade.
The Securities Exchange Commission (SEC) issued a warning to actors and celebrities about endorsing cryptocurrencies on social media platforms, expressing concern over the potential for misleading investors. The SEC has seen an increase in endorsements of cryptocurrencies that may not comply with federal securities laws, and warned that disseminating endorsements without proper disclosure may be unlawful. The warning comes after a surge in prominent figures promoting cryptocurrencies, which has raised concerns over investor protection and market manipulation.
In the wake of the ongoing COVID-19 pandemic, businesses are implementing new strategies to adapt to the changing economic landscape. Companies are focusing on innovation, digital transformation, and resilience to navigate the challenges posed by the pandemic. As a result, there has been a shift towards remote work, digital marketing, and e-commerce, as well as a greater emphasis on cybersecurity and data protection. Businesses are also exploring new revenue streams, partnerships, and market opportunities to remain competitive in a rapidly evolving environment.
The Federal Reserve announced plans to maintain near-zero interest rates and continue purchasing assets to support the economy as it recovers from the impacts of the COVID-19 pandemic. The Fed emphasized the importance of achieving maximum employment and stable prices, and stated that it will provide additional guidance on its monetary policy approach. The Fed’s commitment to supporting the economy has been crucial in stabilizing financial markets and providing liquidity to businesses and households during the pandemic. Moving forward, the Fed will continue to monitor economic developments and adjust its policies as needed to promote a sustainable and inclusive recovery.
In conclusion, the financial markets are experiencing volatility and uncertainty as investors navigate changing economic conditions and market trends. It is important for investors to stay informed, conduct thorough research, and seek guidance from financial experts to make informed investment decisions. By staying abreast of market updates, economic indicators, and industry developments, investors can better assess risks and opportunities to build a diversified and resilient investment portfolio. Additionally, adhering to sound investment principles, such as diversification, long-term planning, and risk management, can help investors navigate market fluctuations and achieve their financial goals in the long run.
