Every weekday, the CNBC Investing Club with Jim Cramer hosts a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a summary of Tuesday’s highlights from the session.
The S&P 500 experienced a notable rise as oil prices took a dip, with West Texas Intermediate crude decreasing by 3%. Cramer described Tuesday’s market activity as a “nice bounce back” from Monday’s decline. He identified two main trends influencing the market: the correlation between falling oil and bond yields driving stock prices up, and a rotation between software and hardware stocks, suggesting a shift in investor focus.
In a significant market development, Amazon’s shares reached yet another all-time high following the launch of Amazon Supply Chain Services aimed at businesses. Jim Cramer discussed insights gained from an interview with Amazon CEO Andy Jassy on “Mad Money.” Cramer emphasized that the anticipated $200 billion in spending this year will soon yield returns, urging skeptics to recognize Amazon’s strategic positioning. He argued that after a period of stagnation, Amazon’s stock is poised for a robust upward trend. Cramer refrained from directly choosing between Amazon and Alphabet as his favorite in the group of major tech stocks, but noted his strong confidence in Amazon’s potential.
In earnings news, Eaton’s stock plummeted over 3% following a strong earnings report that fell short on future guidance. Cramer urged investors to remain bullish on Eaton, asserting that the market is misjudging the company. Conversely, DuPont’s stock surged more than 9% after it beat revenue expectations and raised its guidance. Cramer expressed satisfaction with DuPont’s cash flow, which opens up opportunities for potential mergers, and advised holding onto DuPont shares despite the rally.
The rapid-fire segment at the end of the meeting covered several stocks, including Palantir, PayPal, Coinbase, Pfizer, and Shopify. As always, members of the CNBC Investing Club with Jim Cramer will receive timely trade alerts prior to any transactions in the charitable trust’s portfolio. Cramer typically waits 45 minutes after sending out a trade alert before acting and maintains a 72-hour window if a stock was recently discussed on CNBC TV.
The information shared in this session is governed by the club’s terms and conditions and privacy policy. It is important to note that no fiduciary obligation exists, and no specific outcomes or profits are guaranteed.
