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. U.S. stocks climbed higher to start the week, with the S & P 500 reaching another 52-week high on Monday morning. Mega cap technology stocks were bolstering the market, with strong moves in Club names Amazon , Alphabet , Meta Platforms and Nvidia . The S & P has gained for the past seven-consecutive weeks, it’s longest winning streak since 2017 — a clear sign that investors should hang on through doomsday headlines, Jim Cramer said Monday. Meanwhile, bond yields were steady, with that of the 10-year Treasury hovering below 4%. And oil prices jumped nearly 3%, with West Texas Intermediate crude trading around $73.80 a barrel, in a move that’s boosting Club name Coterra Energy . 2. We sold a handful of shares of Broadcom Monday morning, after the semiconductor firm gained roughly 20% last week. By selling just five shares at roughly $1,127.99 a piece, we took home a gain of roughly 30% on a buy we first made in August. We continue to like Broadcom for the long term because of its artificial-intelligence-related networking revenues, its recent acquisition of VMware, and consistent shareholder rewards through dividends and stock buybacks. 3. Wolfe Research on Monday upgraded Club holding Salesforce to outperform from a neutral-equivalent rating, with a $315-per-share price target. It’s a late call, but Wolfe analysts say the enterprise software name is a stock to own in 2024. That’s because growth has bottomed and should stay in the double digits — helped by pricing, product cycles and AI — and hyperscale platform Data Cloud is on fire, involved in nearly every deal conversation. Lastly, the company’s “commitment to margin leverage is real,” according to Wolfe. (Jim Cramer’s Charitable Trust is long AMZN, GOOGL, META, NVDA, CTRA, AVGO, CRM. 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.
Why investors should look beyond doomsday headlines
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