Every weekday, the CNBC Investing Club hosted by Jim Cramer presents a “Morning Meeting” livestream at 10:20 a.m. ET. Let’s recap the key moments from Monday’s session.
1. Earnings and Inflation:
U.S. stocks experienced a slight uptick on Monday, with the Dow gaining over 150 points. This rally came after a challenging week for major Wall Street indices. Looking ahead, we anticipate the release of second-quarter earnings on Friday, starting with financials like Wells Fargo (WFC), which the CNBC Investing Club currently holds. Additionally, the consumer price index (CPI) data set to be released on Wednesday will provide valuable insight into the inflation landscape. The U.S. economy faces uncertainty as inflation remains high, prompting the Federal Reserve to consider further monetary tightening to address the robust labor market.
2. Johnson & Johnson (J&J) Lawsuit:
A significant development to watch is the upcoming closing arguments in a talc lawsuit against Johnson & Johnson (JNJ). A 24-year-old plaintiff in California claims that asbestos in J&J’s talc products caused his cancer. This legal risk could potentially impact J&J’s share price. The company has faced a series of lawsuits in recent years but maintains that its talc products are asbestos-free and not cancer-causing.
3. Strong Outlook for Meta Platforms (META):
Meta Platforms’ Threads, a Twitter competitor, has garnered over 100 million user sign-ups since its launch announcement late last week. Analysts at Evercore predict that this new product could generate $8 billion in annual revenue within the next two years, leading to a 5% increase in their revenue estimate. Shares of Meta Platforms have risen by 134% year-to-date, benefiting from the favorable performance of mega-cap tech stocks.
As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive trade alerts before Jim initiates any trades. Jim waits 45 minutes after sending a trade alert before making any stock purchase or sale in his charitable trust’s portfolio. If Jim discusses a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.
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