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Jim Cramer’s CNBC Investment Club hosts a “Morning Meeting” livestream weekdays at 10:20 a.m. ET. A recap of Monday’s key moments. U.S. stocks rose on Monday as the Nasdaq and S&P 500 looked to recover from weekly losses. Big gains were seen in tech stocks to start the new week. NVIDIA stock rose as Nvidia kicked off its GTC developer conference and investors waited for CEO Jensen Huang’s keynote address. Apple and Alphabet have gained momentum following media reports that Google could help enhance the iPhone’s future AI capabilities. Jim Cramer said the partnership will be beneficial for both companies. “This is a week where a lot of people would have been focused on the Fed, but instead it’s been a Lollapalooza tech landscape,” he added. The club reduced its Metaplatform position by 30 shares on Monday. The outperformance of stock prices in 2023 and 2024 has increased the weight of the portfolio to approximately 5%. “Meta is a huge winner,” Jim said. “It was very good that we had to adjust our positions accordingly.” Admittedly, this trade was not a theory-altering event. Our discipline dictates that we trim the megacap names a little. We remain bullish given Facebook’s parent company’s strong fundamentals and long-term growth prospects. Abbott Laboratories stock fell slightly on Monday, following a nearly 3% drop on Friday. Abbott shares are on fire after an Illinois judge orders rival company Reckitt Benckiser to pay $60 million to a mother whose premature baby died from an enteric disease known as NEC after using Enfamil infant formula. hit a one-month low. JPMorgan analysts said there is currently no scientific data showing that Abbott’s Similac infant formula causes NEC. Hundreds of lawsuits against Mr. Reckitt and Mr. Abbott are pending. Based on available information, Jim said Monday that there is no “substantial risk” to Abbott and that the stock can still be bought short. The club added Mr. Abbott due to Friday’s weakness. (Jim Cramer’s charitable trusts are AAPL, GOOGL, META, NVDA, ABT. See here for a complete list of stocks.) Jim Cramer’s subscribers to his CNBC Investment Club As a trader, you will receive trade alerts before Jim makes a trade. 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 his CNBC TV, he will wait 72 hours before executing the trade after issuing a trade alert. 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.
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