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. The S & P 500 climbed Wednesday after a second round of weak jobs data pushed bond yields lower and gave the market hope for Federal Reserve interest rate cuts later this year. Private payroll data from ADP indicated that hiring in May slowed down more than expected. The big report of the week comes Friday when the government releases its latest monthly employment numbers. The Nasdaq was by far the star Wednesday — up more than 1% — as portfolio name Nvidia surged back to all-time highs and inched ever closer to joining the $3 trillion market cap club. Club names Apple and Microsoft are the only U.S. companies above that threshold. Ford tumbled more than 1% for the second straight session despite Tuesday’s announcement of another strong month of sales for the automaker. It seems investors haven’t been unable to shake concerns about Ford’s massive electric vehicle division losses. Jim said, however, that the recent stock reaction has been wrong because EVs will become less of a problem in the future. “Ford should be bought and bought aggressively here,” he said Wednesday. “If we didn’t own so much , I would say we should buy some today.” Alphabet announced Wednesday that Eli Lilly finance chief Anat Ashkenazi will become the Google-parent’s new CFO at the end of July. Jim said Ashkenazi has been “key to strategy” and a “dynamite” leader for Eli Lilly where she managed the drugmaker’s books since 2021. The leadership shakeup, however, isn’t a thesis changer for either of the portfolio names. (Jim Cramer’s Charitable Trust is long F, GOOGL, LLY, NVDA, AAPL, MSFT. 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.
FOLLOW US ON GOOGLE NEWS
Read original article here
Denial of responsibility! Chronicles Live is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email –
chronicleslive.com. The content will be deleted within 24 hours.
