CNBC Investing Club: S&P 500 Edges Up, Starbucks Upgraded, Nike Downgraded
Jim Cramer discusses Middle East news, chipmaker gains, and specific stock movements for Starbucks and Nike.
Auf einen Blick
- The CNBC Investing Club reviewed market movements influenced by Middle East news and specific stock performances.
- While the S&P 500 saw a slight increase, Jim Cramer advised caution on Starbucks despite an upgrade and noted Nike's downgrade, emphasizing patience and a 'show me' approach for investors.
KI-generierte Zusammenfassung
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. The S & P 500 edged up on Monday as Wall Street tried to make sense of the latest news from the Middle East. President Donald Trump announced a blockade on the Strait of Hormuz after the United States and Iran failed to make a deal over the weekend. The news follows a positive week for the market. The S & P 500, Nasdaq, and Dow each had their best weekly performance since November. The Club's looking for opportunities to trim on strength. For example, we sold some Broadcom this morning, pocketing gains in the rallying chipmaker.
2. Starbucks was upgraded to a hold from sell at Jefferies. Analysts said the coffee giant can stabilize its crucial U.S. business now that it has reduced its China exposure through its joint venture with Boyu Capital. Jefferies also raised its price target to $92 from $86. Still, Jim Cramer said investors shouldn't be overly optimistic. Management's turnaround plan will require more patience. "I'm trying to keep expectations low, frankly, because the number of moving parts [is] so high," he said. "Let's not get too excited."
3. HSBC cut Nike stock to a hold from buy, and lowered its PT to $48 from $90. Analysts argued that the retailer's turnaround is a "show me story with no short-term catalysts." The call is frustrating, but not shocking. After all, Piper Sandler downgraded the stock just last week. "You're not going to get a bottom in Nike until everyone gives up," Jim said. We're sticking it out for now.
4. Stocks covered in Monday's rapid fire at the end of the video were: Williams-Sonoma, Best Buy, Conagra, and T-Mobile. (Jim Cramer's Charitable Trust is long SBUX, NKE, AVGO. 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.
