Latest news with #MorningMeeting
CNBC
21 hours ago
- Business
- CNBC
One stock we might need to buy on the dip and another Cramer would buy big now
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. ET. Here's a recap of Monday's key moments. The S & P 500 fell on the first trading day of June after a weekend of no progress on China trade talks. In fact, China refuted President Donald Trump 's accusation Friday morning that Beijing violated its trade agreement with the U.S. The White House on Monday said Trump will likely talk with Chinese President Xi Jinping this week. "I think the Chinese would be nuts to make a deal," Jim Cramer said during the Morning Meeting. "China does not seem to have as much to lose as we think." In Jim's Sunday column , he looked at how the president's tariff unpredictability is holding back the market in 10 ways. Late Friday, at a rally in Pennsylvania, the president said he's doubling the tariff rate on steel to 50%, starting June 4. Shares of steelmaker and miner Cleveland-Cliffs on Monday jumped more than 25% on the news, while rival Nucor , which is in our Bullpen, gained more than 10%. Steel tariffs, in theory, can even the global playing field on price. Companies that make steel and service the domestic industry may benefit in the near term, but what about industrials that rely on steel as an input cost? Many of them are down Monday, including Club name Dover, which has some steel exposure. "We might have to go pick at this one," Jim said. "I think that's way too low." "Let's go to something I find actionable in our portfolio that I do not get," Jim said. "The action is Capital One." The Club stock, which was down Monday with the banks, has not been rewarded for its Discover acquisition. Goldman Sachs put Capital One on its conviction list. "When I worked at Goldman, I would have picked up the phone and told everybody they have to be in this stock," Jim said. To investors without positions in Capital One, "I would be a huge buyer of this thing," Jim said. The benefits of the acquisition are "intrinsic and excellent," Jim said, noting the catalyst of Discover's payment network and the prospects for second-half stock buybacks. Stocks covered in Monday's rapid fire at the end of the video were Campbell's , Bullpen name Boeing , and Club name GE Vernova . (See here for a full list of the stocks in Jim Cramer's Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert 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. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
CNBC
4 days ago
- Business
- CNBC
Why Jim Cramer is frustrated by Friday's lower market — plus, good news for 2 of our bank stocks
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. ET. Here's a recap of Friday's key moments. 1. Wall Street was lower Friday after President Donald Trump said in a Truth Social post that China violated a preliminary trade deal between the two countries, suggesting a tougher stance may be afoot. "We have to literally expect that maybe something happens today, and it just drives me crazy because ... we would have a good market" if not for Trump's threats, Jim Cramer said. Case in point: Stocks temporarily came off their lows after a better-than-expected consumer sentiment survey from the University of Michigan, which showed that respondents' one-year inflation expectations came down from the very high levels seen in prior readings. On top of that, the Federal Reserve's preferred inflation gauge came in mostly aligned with expectations and continued to trend lower. Meanwhile, Jim said he's keeping an eye on headlines out of this weekend's OPEC+ meeting, which could determine where oil prices go next. On Friday, U.S. oil benchmark WTI hovered just above $60 a barrel. 2. Club name Goldman Sachs actually worked on a deal in the oil industry announced Friday — good news for the bank as merger-and-acquisition activity shows further signs of a rebound. The bank is the financial advisor for EOG's $5.6 billion purchase of Encino, while also providing financing. "Deal chatter really, really picked up" after Trump paused his "reciprocal" tariffs in April, Jim said. Shares of fellow Club financial Wells Fargo are slightly lower on Friday after Thursday's 1% gain. On Thursday, the bank confirmed its termination of a 2015 consent order with the Office of the Comptroller of the Currency. The last remaining enforcement action left against Wells for a series of scandals is the Federal Reserve's asset cap imposed in 2018. Thursday's OCC news is a positive sign that we could see the asset cap removed by year-end, said Jeff Marks, director of portfolio analysis. "If you just joined [the Club], buy it," Jim said of Wells Fargo's stock. 3. CrowdStrike and Broadcom are set to report earnings next week on Tuesday and Thursday, respectively. CrowdStrike shares are up a little over 1% Friday, a reaction that Jim said was driven by cybersecurity peer Zscaler's good quarter. With custom AI chipmaker Broadcom, we're also looking forward to seeing the progress its making with cloud software firm VMWare, particularly on gross margins. "The VMware deal has been awesome for them," Marks said. "The stock is up huge since that deal closed." 4. Stocks covered in Friday's rapid fire at the end of the video were: Dell Technologies , Marvell Technology , Ulta Beauty, Gap Inc. , and Airbnb . (Jim Cramer's Charitable Trust is long AVGO,CRWD, GS, WFC . See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert 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. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
CNBC
5 days ago
- Business
- CNBC
Jim Cramer says a rare dip in our newest stock may be a buy for new investors
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. ET. Here's a recap of Thursday's key moments. The S & P 500 was modestly higher Thursday. While cheering Nvidia 's strong earnings and 5% rally in the stock, investors were cautious in the face of new trade policy uncertainty. That uncertainty stems from Wednesday night's ruling by the U.S. Court of International Trade that President Donald Trump does not have the authority to impose his "reciprocal" tariffs. Jim Cramer said the ruling gives countries looking to cut a trade deal with the U.S. some breathing room to wait for a Supreme Court decision. Jim thinks the nation's highest court could side with the trade court. Following Nvidia and Salesforce earnings Wednesday evening, quarterly results from fellow Club name Costco will be our focus after the closing bell. The company does report sales on a monthly basis, so that part is well understood. The question is what do margins look like in an evolving tariff environment? Jim said he wouldn't be surprised if Costco shares were to trade lower following Thursday evening's quarterly numbers. However, he said that, like Club holding TJX , which fell after its earnings but is now coming back, Costco could follow a similar pattern. Jefferies downgraded GE Vernova , our newest stock, to a hold from buy. It was a valuation call after shares surged to record highs. Out of respect for the rally, we downgraded GE Vernova to our hold-equivalent 2 rating on Tuesday. We did, however, raise our price target to $500 per share. Jefferies analysts boosted theirs even higher to $517. GE Vernova shares dropped more than 3% on Thursday after eight straight higher sessions. Jim said this may be a chance to buy for investors looking to start a position because it's been straight up since we initiated it about two weeks ago. Stocks covered in Thursday's rapid fire at the end of the video were: e.l.f. Beauty , Burlington Stores , HP Inc. , and SentinelOne . (Jim Cramer's Charitable Trust is long NVDA, CRM, GEV. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert 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. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
CNBC
6 days ago
- Business
- CNBC
Stocks slip as market awaits Nvidia, Salesforce earnings — here's what we expect
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. ET. Here's a recap of Wednesday's key moments. 1. The stock market is slightly lower ahead of major earnings Wednesday evening. This follows the S & P 500's 2% rally on Tuesday in reaction to President Donald Trump's 50% European Union tariff pause and a better-than-expected consumer confidence report. "People are a little more nervous [today]," said Jim Cramer, pointing out that investors may be taking profits after Tuesday's big move up. The 10-year Treasury is higher but still sitting under 4.5% 2. Nvidia and Salesforce are two big names reporting earnings after the bell. Nvidia CEO Jensen Huang will join "Mad Money" later, when Jim Cramer plans to ask more about trade deals and China. At Salesforce, we're eyeing growth from the company's core business amid fears that CEO Marc Benioff has neglected it to aggressively roll out Agentforce, its platform of autonomous AI agents that isn't expected to contribute material revenue for a while. "That's a problem. It better start producing revenue," said Jim, adding that the company's other big deals should be bringing in cash too. 3. Broadcom's price target was raised to $283 from $198 at Melius Research, which said stock still has room for growth as its number of custom AI accelerator customers more than doubled (to 7 from 3). Analysts also pointed out that the spending of two of its largest customers, Alphabet and Meta Platforms , hasn't slowed down. Melius kept its buy rating on the stock. The Club used Tuesday's rally to trim 50 shares of Broadcom and downgraded our rating to a 2, meaning we would buy more shares on a pullback. 4. Stocks covered in Wednesday's rapid fire at the end of the video were: Okta , Macy's , Abercombie & Fitch , and Dick's Sporting Goods (Jim Cramer's Charitable Trust is long AVGO, CRM, NVDA. See here for a full list of the stocks. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert 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. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
CNBC
7 days ago
- Business
- CNBC
The S&P 500 soars on trade optimism — plus, Cramer's take on Salesforce's $8 billion deal
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. ET. Here's a recap of Tuesday's key moments. 1. The S & P 500 jumped 1.75% on Tuesday after President Donald Trump delayed his 50% tariffs on EU imports and said the bloc called to "establish meeting dates" for trade talks. Stock trading to start the holiday-shortened week could have been a "catastrophe," Jim Cramer said, referring to last week's laundry list of concerns . We took advantage of last week's market sell-off to add to our position in Capital One . On the flip side, out of respect for a parabolic move in GE Vernova to all-time highs, we raised our price target but downgraded the Club stock to our hold-equivalent. Also on Tuesday, we took some profits in Broadcom after its recent rally. 2. Salesforce shares rose modestly Tuesday after the Club name announced plans to buy Informatica for $8 billion. Informatica stock gained 6% on the news. Jim compared the deal to Cisco Systems ' purchase of Splunk, which investors were skeptical of but later realized its potential. Jim said he met the Informatica team through Salesforce CEO Marc Benioff, finding the company intelligent about finding fraud. We look forward to hearing more from Salesforce when the company reports earnings after Wednesday's closing bell. 3. Nvidia is said to be working on a new artificial intelligence chip for the Chinese market. According to Reuters , the chip will be much cheaper than its previous made-for-China H20 model, which was basically banned by the U.S. last month and resulted in Nvidia announcing a $5.5 billion inventory write down. Mass production of the new China chip could start as early as June. Nvidia shares rose nearly 3%, which pushed the Club stock back into the green year to date. However, Jim said he's cautious about Tuesday's stock gains and would not buy here ahead of earnings Wednesday evening. 4. Stocks covered in Tuesday's rapid fire at the end of the video were: CoreWeave , Cummins, and United States Steel Corp , and Nippon Steel (Jim Cramer's Charitable Trust is long CRM, COF, NVDA . See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert 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. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
