Every weekday, the CNBC Investing Club with Jim Cramer provides the Homestretch – a timely afternoon update for the last hour of trading on Wall Street. The stock market reacted positively to the good jobs data, viewing it as good news regardless of its impact on the timing of the first interest rate cut by the Federal Reserve. Strong job gains with moderating wage growth are seen as favorable for the U.S. economy.
The market rally on Friday was also influenced by the lack of new escalations in the Middle East, leading to a rebound in oil prices. It is important to monitor the situation in the Middle East and its impact on the oil market. Fed Chairman Jerome Powell’s recent comments about rate cuts align with previous statements and suggest that a cut will occur when necessary.
Ford received a price target increase from Morgan Stanley following its decision to delay production of new electric vehicles. This strategic shift may lead to reduced losses and increased cash flow for Ford, benefiting shareholders.
Top weekly performers in the portfolio included Meta Platforms, Eaton, Wynn Resorts, and Amazon, while the worst performers were Foot Locker, Estee Lauder, Palo Alto Networks, and TJX Companies. Retail stocks faced challenges, but opportunities were seen in Costco and TJX.
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The CNBC Investing Club with Jim Cramer releases a daily Homestretch update providing actionable insights for the last hour of trading on Wall Street. The recent good news of strong job gains and moderating wage growth is seen as positive for the U.S. economy, despite concerns about inflation. The market rally following the jobs report is also attributed to the lack of new escalations in the Middle East. Ford’s stock price received a boost after Morgan Stanley raised its price target, believing the automaker’s focus on profitable hybrid offerings will benefit its earnings. The top weekly performers in the portfolio included Meta Platforms, Eaton, Wynn Resorts, and Amazon, while the worst performers were Foot Locker, Estee Lauder, Palo Alto Networks, and TJX Companies. Retail stocks suffered a decline due to poor earnings and rising gasoline prices, but opportunities are seen in market share gainers like Costco and TJX. As a subscriber, members receive trade alerts before Jim Cramer makes a trade, with certain waiting periods in place to ensure transparency and compliance with regulations.
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