Every weekday, the CNBC Investment Club will host a live “Morning Meeting” with Jim Cramer at 10:20 a.m. ET. Here’s a look back at Monday’s key moments. U.S. stocks rose sharply on Monday as the Nasdaq and S&P 500 attempted to recover from a week of losses. The new week started with a big jump for technology stocks. Nvidia’s stock price rose as the company’s GTC developer conference kicked off as investors awaited CEO Jensen Huang’s keynote speech. Apple and Alphabet made progress after media reports that Google may help power future artificial intelligence features in iPhones. Jim Cramer said the partnership is a positive for both companies. “This is one of those weeks where a lot of people are focused on the Fed, but the tech landscape is in disarray,” he added. The club cut its 30-share dollar platform position on Monday. The stock’s outperformance in 2023 and 2024 would lift its portfolio weight to around 5%. “Meta is a huge winner,” Jim said. “This is great, we have to adjust the position size.” To be sure, this trade was not an argument-changing event. Our discipline provides for a small number of revisions to large-cap names. We remain bullish on Facebook’s parent company given its solid fundamentals and long-term growth prospects. Shares of Abbott Laboratories edged lower on Monday after falling nearly 3% on Friday. Abbott shares fell to a one-month low after an Illinois judge ordered rival Reckitt Benckiser to pay $60 million to the mother of a premature baby who died of an enteric disease (NEC) after using Enfamil infant formula. . Analysts at JPMorgan Chase said there is currently no scientific data showing that Abbott’s Similac infant formula causes NEC. Hundreds of lawsuits are pending against Reckitt Benckiser and Abbott. Based on the available information, Jim said on Monday that there was “no real risk” to Abbott and that the shares he was selling could still be bought. Abbott’s weakness was further exacerbated by the club’s performance on Friday. (Jim Cramer’s Charitable Trust is a long-term BUY AAPL, GOOGL, META, NVDA, ABT. See here for a complete list of stocks.) As Jim Cramer As a CNBC Investing Club subscriber, you will receive trade alerts before Jim Cramer makes a trade. trade. Jim waits 45 minutes after sending a trade alert before buying or selling stocks in his charitable trust portfolio. If Jim talked about a stock on CNBC TV, he would wait 72 hours after issuing a trade alert before executing the trade. The investment club information above is subject to our Terms and Conditions and Privacy Policy and our Disclaimer. No fiduciary duty or obligation shall exist or arise upon your receipt of any information relating to the Investment Club. No specific results or profits are guaranteed.
