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. 1. Wall Street started the week off slightly lower on the last day of September — historically the worst month of the year, but not this year. During Monday’s Morning Meeting, Jim Cramer noted that the market bucked its seasonal tendencies. “Once again, the bull market continues.” The Dow , the S & P 500 , and the Nasdaq are set for monthly gains. The Dow and S & P 500 saw some record-high closes last week. The Nasdaq still has more work to do to get back to July’s all-time high. Monday also brings an end to a great third quarter for stocks. 2. The S & P Short Range Oscillator was still overbought after Friday’s session — but just barely. A lower S & P 500 close Monday might break the Oscillator’s overbrought streak of nine trading days. During this stretch, dating back to Sept. 17, we’ve been disciplined and made some trims when there’s too much buying out there. Jim called out Wednesday’s small sales of Meta Platforms and Alphabet as shares of both gained ground recently. 3. Abbott Laboratories goes to trial in St. Louis this week over allegations about the dangers of certain specialized baby formula used in newborn intensive care units. In July, Abbott lost another case in St. Louis. Jim expects the company to lose again. However, he said that outside the formula litigation overhang, which should abate as cases move to less plaintiff-friendly jurisdictions, Abbott is a great stock. He stressed, “I want people in it,” advising investors to wait for the trial loss and then buy on the dip. 4. Stocks covered in Monday’s rapid fire at the end of the video were JPMorgan , CVS Health , Ford and General Motors , PayPal , and Alibaba . (Jim Cramer’s Charitable Trust is long META, GOOGL, ABT. 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.
Source link
Denial of responsibility! NewsConcerns 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 –
[email protected]. The content will be deleted within 24 hours.
