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. The Nasdaq rose Monday — led by Nvidia ‘s more than 3.5% gain after CEO Jensen Huang unveiled a new suite of artificial intelligence chips on Sunday. Treasury yields fell sharply on weak manufacturing data . And, oil prices tumbled as OPEC+ announced plans to phase out voluntary production cuts. “We’ve got a deflationary set up this morning,” Jim Cramer said Monday. Melius Research initiated coverage of Broadcom with a buy rating and price target of $1,850 a piece, implying 40% upside from Friday’s close. The analysts called Club name Broadcom a must-own AI stock, saying artificial intelligence revenue momentum is just getting started. Jim said that Monday’s roughly 1% decline in the stock is “an opportunity to get into Broadcom” for new investors. For investors who don’t own Club stock Stanley Black & Decker , Jim said it’s also a great buy at these levels. Shares of the toolmaker — down roughly 1.5% on Monday — should climb as the Federal Reserve lowers interest rates and the housing market picks back up. “You should just go buy this,” Jim said. “It’s a very good, very cyclical stock.” In his Sunday column, Jim wrote about how enterprise software companies are being threatened by AI, saying Stanley Black & Decker stock will outperform names like Salesforce , which is also a Club stock. (Jim Cramer’s Charitable Trust is long AVGO, NVDA, SWK, CRM. 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. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
Read the full article here
