Jim Cramer’s CNBC Investment Club hosts a “Morning Meeting” livestream weekdays at 10:20 a.m. ET. A recap of Monday’s key moments. 1. The S&P 500 rose modestly on Monday, hitting a new post-election high on Friday. The tech-heavy Nasdaq was basically flat. Club chip names Advanced Micro Devices, Broadcom, and Nvidia ranked low, as did the rest of the Super Six except Alphabet. The pause in the rise of mega-cap tech stocks suggests that the market’s bull market is expanding. Highlights this week include two key inflation statistics: Wednesday’s Consumer Price Index and Thursday’s Producer Price Index, as well as Friday’s Retail Sales. Club names Home Depot and Disney will report earnings on Tuesday morning and Thursday morning, respectively. 2. Salesforce stock soared to an intraday high on Monday after the company late Friday announced plans to hire 1,000 new salespeople for its Agentforce tool. This is a “positive demand signal” for the artificial intelligence platform and a major turnaround from the downturn earlier this year due to slowing demand, said the club’s portfolio director, Geoff Marks. Wall Street firm Jefferies raised its price target for Salesforce to $400 a share from $350, suggesting a 40% upside from Friday’s closing price. Analysts said industry survey results showed increased interest in larger deals since Salesforce’s annual Dreamforce conference in September. This year’s event showcased the company’s artificial intelligence capabilities. “It’s been a long time since we’ve heard this sentiment about Salesforce,” Marks said. 3. Home Depot’s third-quarter results this week are expected to be weak, with same-store sales down year-on-year. But Marks said the club would be a buyer if there was a post-earnings pullback, anticipating a rebound once mortgage rates settle. The new home turnover cycle will likely drive demand for home upgrades and leverage Home Depot’s strengths. The stock was up more than 1% on Monday, suggesting investors were already pricing in a lower stock price and were eyeing a recovery as the Federal Reserve continues to cut interest rates. . (See here for a complete list of Jim Cramer Charitable Trust stocks.) As a subscriber to Jim Cramer’s CNBC Investment Club, you will receive trade alerts before Jim makes a trade. After Jim sends a trade alert, he waits 45 minutes before buying or selling stocks in his charitable trust’s portfolio. If Jim talks about a stock on CNBC TV, he will issue a trade alert and then wait 72 hours before executing the trade. The above investment club information is subject to our Terms of Use and Privacy Policy, along with our disclaimer. No fiduciary duties or obligations exist or arise from your receipt of information provided in connection with the Investment Club. No specific results or benefits are guaranteed.
Jim Cramer’s CNBC Investment Club hosts a “Morning Meeting” livestream weekdays at 10:20 a.m. ET. A recap of Monday’s key moments.
