The CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET every weekday, where key moments from the financial markets are discussed. On a recent Friday, Wall Street moved modestly higher after a stronger-than-expected jobs report, although stocks were losing some momentum. Jim Cramer referred to September’s nonfarm payroll growth as a “no landing” number, indicating that there is no need to debate between a hard economic landing versus a soft landing. Despite this, the Dow, S&P 500, and Nasdaq were still expected to be down for the week if stocks did not pick up. U.S. oil prices also increased as concerns rose over a potential attack on Iran’s oil infrastructure by Israel in retaliation for a recent missile strike.
Jim Cramer recommended that investors who do not already own Advanced Micro Devices (AMD) stock should consider buying some ahead of the chipmaker’s upcoming Advancing AI event. Cramer had recently spent time with AMD CEO Lisa Su and believes that the company has a strong artificial intelligence story to tell. He highlighted AMD’s AI chip for data centers and quality chips for AI personal computers, noting that the stock has not seen the same gains as competitor Nvidia this year. In terms of bank stocks, Morgan Stanley received an upgrade that was worth exploring further, while Wells Fargo was recommended for purchase before the upcoming quarterly earnings report. Cramer expressed optimism about Wells Fargo, citing the potential lifting of the asset cap imposed on the bank in 2018.
As a subscriber to the CNBC Investing Club with Jim Cramer, individuals receive trade alerts before Jim makes any trades in his charitable trust’s portfolio. There is a 45-minute waiting period after a trade alert is sent before any action is taken, and if a stock is mentioned on CNBC TV, a 72-hour waiting period is observed. It is important to note that 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 club, and no specific outcome or profit is guaranteed. Investors are encouraged to review the full list of stocks held by Jim Cramer’s charitable trust, which includes AMD, Nvidia, Morgan Stanley, and Wells Fargo.
In conclusion, the recent Morning Meeting livestream highlighted the positive momentum in the financial markets following a strong jobs report. Jim Cramer provided insights on key stocks, including Advanced Micro Devices and Wells Fargo, and shared his thoughts on potential market developments. Subscribers to the CNBC Investing Club with Jim Cramer receive valuable trade alerts and are guided on best practices for making investment decisions. It is important to approach investments with caution and to consider all available information before making any decisions.
