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 Thursday’s key moments. 1. Wall Street was trying to stabilize Thursday after a rough start to 2024. Mega-cap tech stocks saw continued pressure. Apple was down again on another downgrade. Jim Cramer said Thursday the sector has been a “source of funds” for investors taking profits following last year’s rally. But he added these are still great companies. We trimmed a bit on Tuesday. The 10-year Treasury yield was making a run at 4% again after stronger-than-expected ADP data on hiring at U.S. companies. ADP, however, has been a spotty indicator of the government’s monthly employment report, which is set for release Friday. 2. Ford stock “bought by you, not sold,” Jim said after the struggling automaker released strong fourth quarter sales numbers. Putting more emphasis on hybrids continued to pay off, with sales in the last three months of 2023 up 55.5%. Electric vehicles were also strong, up 27.5%. Sales of the F-150 Lightning were up 73.6%. Club holding Ford just raised Lightning prices to $54,995 from $49,995. But that sticker remains below the cheapest version of Tesla ‘s Cybertruck, which starts at $60,990. 3. Big call on Club industrial stocks from Mizuho: The analysts named Honeywell as a top pick and raised their price target to $245 per share from $225. Attractive valuations and aerospace strength were cited as reasons. Eaton ‘s price target was also raised to $260 from $250. The analysts say to watch out for order reacceleration as mega-project funnels convert. Jim said he’s been itching to buy more Eaton. But it has to be at the right price since the stock has been running recently. (See here for a full list of the stocks in Jim Cramer’s Charitable Trust.) 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.
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