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 were higher Monday as Wall Street tried to recover from last week’s pullback. Recently, investor concerns about the Federal Reserve’s next policy move have weighed on the market. “Let’s stop being focused on the short-term,” Jim Cramer said Monday, cautioning Club members against investing based on Fed officials’ comments. He was echoing his Sunday column . “Let’s focus on what’s about to come, which is earnings,” he said. Club names Constellation Brands and Wells Fargo release earnings on Thursday and Friday, respectively. The market also gets two inflation reports this week. Wolfe Research downgraded portfolio name Eaton to underperform from peer-perform (sell from hold). The analysts cited valuation concerns. Eaton shares fell 1.5% to start the week after Friday’s all-time high. Jim described the call as a “clown downgrade,” saying the electrical components maker has been trading more like a tech stock and can’t be compared to its industrial peers. The reason why is that a huge end market for Eaton is data centers, which are being built at a rapid clip due to the artificial intelligence wave. We don’t anticipate this trend letting up soon. Jefferies lowered Best Buy’s price target to $94 per share from $95 but reiterated its buy rating. The analysts see momentum building around a “powerful replacement cycle” for consumer electronics. Jim has been calling for a personal computing refresh cycle for some time, accelerated by forthcoming AI integrations. This is all great news for recently added Club stock Best Buy in terms of demand and sales as well as its stock price eventually. (Jim Cramer’s Charitable Trust is long ETN, WFC, BBY, STZ. 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…
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