[ad_1]
Every weekday, Jim Cramer’s CNBC Investment Club releases the Homestretch, a practical afternoon update to coincide with the last hour of trading on Wall Street. In order to get this new documentation feature to our members as soon as possible, audio recordings will no longer be made. This is the Friday edition.
Up to the wire: It was an eventful day. Importantly, the market was able to shake off the bleak view of rising producer prices and bond yields and recover from early losses. It’s a different trading pattern from Tuesday, when hot news on consumer prices sent bond yields soaring and stocks fell.of S&P500 It ended Thursday at a record high, and the index was just above breakeven this week. If this rally holds, it would mean the S&P 500 has closed with weekly gains in 15 of the past 16 weeks. It was such a big run.
expand the scope: One thing to note on Friday is that the S&P 500 is languishing without much help from the Magnificent Seven. alphabet, apple, Amazon, meta platform, microsoft, Nvidia and Tesla. Most of them are trading lower during the session, but notable exceptions are: Nvidia and tesla. Remember when Jim Cramer ousted Tesla and renamed the group of mega-cap market leaders the “Significant Six”? We own all six of the club’s portfolios. The top sectors in the market on Friday are: material, health care and Daily necessities.
Club winner: wells fargo It was the week’s top performer thanks to a 7% rally on Thursday following the termination of a regulatory consent order. GE Healthcare It was second on the list. UBS upgraded the healthcare company to neutral on Monday. HSBC initiated coverage on Thursday with a price target of $100, the highest price on the market. Surprisingly, despite the news that an offering of 13 million shares had taken place; general electricShares of GEHC stock rose on Friday, reversing early losses. That’s a great sign.Other noteworthy outperforming companies this week include Eli Lilly, foot locker, Danaher, Lindeand disney.
Club laggards: Mega-cap tech stocks led the way in portfolio declines this week, with Alphabet, Microsoft, Apple and Amazon among the worst performers. Starbucks performance was also poor. We added to our position in Starbucks on Wednesday, when the stock returned to pre-earnings levels after a series of tough trading sessions. The coffee giant needs to prove it can accelerate same-store sales growth again, but the fact that the stock price did not fall below earnings despite the bad news suggests that the market has priced in a significant downside at this level. It shows that there is.
next week: The four companies in the portfolio are due to report next week after a shortened holiday following the recent slump in club revenues. palo alto networks Nvidia and Nvidia after the closing bell on Tuesday and Wednesday, respectively. They are the big ones. Both stocks are off to a strong start to the new year. Bausch health and cotera energy Both will be reported on Thursday. Outside of the portfolio, we derive income from: walmart and home depot.
Mark your calendar. On Saturday, February 24th, we will be hosting the second annual meeting for members of the CNBC Investment Club with Jim Cramer. Please check your email for more information.
(look here Click here for a complete list of Jim Cramer’s Charitable Trust stocks. )
Subscribers to Jim Cramer’s CNBC Investing Club receive trade alerts before Jim Cramer makes a trade. After Jim sends a trade alert, he waits 45 minutes before buying or selling stocks in a charitable trust’s portfolio. If Jim talks about a stock on CNBC TV, he will issue a trade alert and then he will wait 72 hours before executing the trade.
The above investment club information is subject to our Terms of Use and Privacy Policy, along with our disclaimer. No fiduciary duties or obligations exist or arise from your receipt of information provided in connection with the Investment Club. No specific results or benefits are guaranteed.
[ad_2]
Source link
