The CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream every weekday at 10:20 a.m. ET. On a recent Thursday, U.S. stocks tumbled as Wall Street grappled with softer-than-expected gross domestic product data and persistent inflation concerns. The first-quarter GDP figures showed a significant slowdown in growth from the previous quarter, leading Jim Cramer to believe that “brown shoots” have sprouted in the U.S. economy. All three major U.S. stock indexes were down more than 1% as the benchmark 10-year Treasury yield rose to its highest level in over five months. Jim expressed the need for the Fed to address issues of inflation despite previous rate hikes.
Ford Motor stock declined 1.6% on Thursday despite the company’s better-than-expected quarterly results the previous evening. Jim expressed his disagreement with the stock’s performance, stating that Ford should not be down given the positive updates provided by management, including lower capital expenditure guidance. Similarly, Honeywell International’s stock was down 2% after the industrial conglomerate posted a beat on quarterly earnings and revenue. Jim believed that Honeywell’s stock should be higher on the results, with a full breakdown of the report set to be released later in the day. Goldman Sachs upgraded TJX Companies to a buy rating from hold and raised its price target on the stock, citing the company’s ability to capture market share as consumers seek value and variety in their products.
As a subscriber to the CNBC Investing Club with Jim Cramer, members receive trade alerts before Jim makes a trade. Jim implements a waiting period of 45 minutes after issuing a trade alert before buying or selling a stock in his charitable trust’s portfolio, and 72 hours if the stock has been discussed on CNBC TV. The information provided by the Investing Club is subject to terms and conditions, privacy policy, and disclaimer. There is no fiduciary obligation or duty created by receiving information from the Investing Club, and no specific outcome or profit is guaranteed. The Charitable Trust owned shares of Honeywell, Ford, and TJX, and additional information on the stocks held can be found on the website.
In conclusion, the recent “Morning Meeting” livestream highlighted the challenges facing the U.S. economy, including slower growth and persistent inflation concerns. Despite positive earnings reports from companies like Ford and Honeywell, their stock prices did not reflect the results, leading to disagreement from Jim Cramer. The upgrade of TJX Companies by Goldman Sachs and the continued belief in the company’s ability to capture market share reaffirmed the Investing Club’s investment thesis. Subscribers to the Investing Club have access to trade alerts before Jim makes a move in his charitable trust’s portfolio, with specific waiting periods in place to ensure considered decision-making. The information provided by the Investing Club is subject to a range of policies and disclaimers, with no guaranteed outcomes or profits.
