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. U.S. stocks climbed higher Thursday morning following three-straight days of declines, with the Magnificent Seven outperforming. The S & P 500 was up 0.7%, while the Nasdaq Composite gained more than 1%. “This move is for real,” Jim Cramer said Thursday. Bond yields were mainly steady — the 10-year Treasury is hovering around 4.1% — as investors look ahead to the Labor Department’s monthly nonfarm jobs report on Friday. Elsewhere, oil prices were trying to stabilize after West Texas Intermediate crude plummeted below $70 a barrel on Wednesday. 2. In an interview with Jim Wednesday, Amazon (AMZN) CEO Andy Jassy said he’s bullish on the company’s cloud business in 2024. He sees generative artificial intelligence as a major opportunity for Amazon Web Services. Like founder Jeff Bezos, Jassy is intensely focused on doing what’s best for customers, and Prime is still an incredible deal when you add up all its discounts and benefits. At the same time, Amazon’s consumables business is growing incredibly fast due to delivery speeds. Jassy has shown that Amazon “can do much more with less,” Jim said Thursday. 3. Jim said Thursday that he reached out to Ford (F) CEO Jim Farley about the automaker’s stellar hybrid sales and how he plans to capitalize on strong consumer demand. He came away from the discussion thinking that shares of Ford, which made a 52-week low under $10 on Oct. 31, may have put in bottom. “This has been a very tough stock to own, but I think this level is going to be the floor,” Jim said. (Jim Cramer’s Charitable Trust is long AMZN, F. 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…
Read the full article here
Leave a Reply