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. U.S. stocks rose Monday as the busiest week of first-quarter earnings kicks off. A dozen Club holdings are slated to post results, including Apple and Amazon . But Jim Cramer argued that the market will, instead, be focused on the Federal Reserve’s next interest rate policy decision, set for Wednesday, and the April jobs report on Friday. “All that matters is that we have a Fed meeting and we have employment numbers, those are the prisms that people look through Amazon and Apple,” Jim said Monday. Alphabet shares on Monday declined more than 2.5% amid a broader weakness in mega-cap tech names. Another bout of negative press could be weighing down the stock. Bloomberg reported late Friday that Apple is in talks with more than just Alphabet-owned Google for its generative artificial intelligence features in the upcoming iPhone. The outlet said the tech giant also may be in negotiations with OpenAI, the Microsoft -backed startup behind ChatGPT. These reports have not been confirmed. Jim said the Alphabet looks attractive at these lower levels for new buyers. “I like Alphabet [stock] here,” he added. “You’re getting an opportunity, once again, to get in when it’s at its highest quality because now we know what they make.” Palo Alto Networks stock advanced more than 1% on Monday after Morgan Stanley touted the Club’s favorite cybersecurity name. Analysts cited a solid demand environment for Palo Alto’s offerings and said the company seems to be improving its competitive advantage among peers. These are two sentiments that Jim has held as well, especially after UnitedHealth tapped Palo Alto to help following a massive hack on its subsidiary earlier this year. (Jim Cramer’s Charitable Trust is long GOOGL, PANW, AAPL, AMZN. MSFT. 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
