The CNBC Investing Club with Jim Cramer hosts a “Morning Meeting” livestream each weekday at 10:20 a.m. ET. On a recent Friday, the Dow Jones Industrial Average was on track for its eighth straight session in the green, while the S&P 500 was flat and the Nasdaq was lower. Jim Cramer noted that the current bull market is diverse and not led by any single company, making it a strong market overall. However, with stocks becoming overbought, it may not be the ideal time to buy. The club is looking to trim some strong performers, such as Procter & Gamble, which hit another all-time high on Friday.
Chip stocks had a strong performance on the Friday session, with Taiwan Semiconductor Manufacturing Co. reporting strong April sales figures that indicated continued demand for artificial intelligence chips. Nvidia, a Club holding and a key customer of TSMC, saw its shares climb 1.2% on Friday. Another Club name, Broadcom, also saw a 2% jump, with Jim noting that the stock may be primed for a breakout soon. Despite the positive performance of chip stocks, Alphabet was the worst-performing Club holding on Friday, down about 1.1%. The Google parent company is facing various challenges, including reports of Microsoft-backed OpenAI planning to introduce a search engine product, as well as rumors of Alphabet potentially acquiring HubSpot.
As a subscriber to the CNBC Investing Club with Jim Cramer, members receive trade alerts before Jim makes a trade in his charitable trust’s portfolio. Jim follows specific guidelines before executing trades, waiting 45 minutes after sending a trade alert or 72 hours after discussing a stock on CNBC TV. It is important to note that the information provided by the Investing Club is subject to terms and conditions, privacy policy, and a disclaimer. There is no fiduciary obligation or duty created by receiving information from the club, and no specific outcome or profit is guaranteed. Members should carefully review the terms and conditions of the club to understand their rights and responsibilities.
Overall, the current market conditions are positive, with the bull market showing diversity and strength across the board. However, with stocks becoming overbought, caution is advised when making investment decisions. Trimming strong performers like Procter & Gamble may be a prudent move in the current environment. Chip stocks, particularly those involved in artificial intelligence, have shown resilience and strong performance, with potential for further growth. Meanwhile, Alphabet faces challenges and uncertainties that have impacted its stock performance. Members of the CNBC Investing Club with Jim Cramer have access to trade alerts and guidance from Jim, but should carefully consider the terms and conditions of the club before making investment decisions.
