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 Tuesday’s key moments. 1. U.S. stocks gained in midmorning trading Tuesday, with the S & P 500 up 0.14% and the Nasdaq Composite up 0.64%. Technology stocks were outperforming, as bond yields retreated on the back of fresh data showing job openings in October fell to the lowest level in over two years, according to the Labor Department’s Job Openings and Labor Turnover Survey. The yield on the 10-year Treasury was hovering just above 4.2%. Meanwhile, oil was attempting a rebound as prices climbed roughly 1%, bringing West Texas Intermediate crude to just under $74 a barrel. 2. Shares of Club holding Procter & Gamble (PG) tumbled roughly 2.5% Tuesday morning after the consumer goods firm said it’s planning a restructuring of its business operations to address “challenging macroeconomic and fiscal conditions,” mainly in Argentina and Nigeria. But Jim Cramer urged investors to look past the headlines and stick with this solid name that boasts a $350 billion market capitalization. “I am appalled Procter is down a much as it is,” he said. He added: “Don’t sell it. You want to buy it.” Elsewhere, Jim said that Club holding Starbucks (SBUX) — a company with strong growth prospects in China whose whose stock has unfairly lost more than 9% since mid-November — is another buying opportunity. 3. Club holding Eli Lilly (LLY) said Tuesday that its recently approved obesity treatment Zepbound is now available in U.S. pharmacies . The news signifies the first commercial coverage for weight-loss drugs in the U.S., and could cost as little as $25 for insured patients. “This is really great news for Lilly,” Jim said Thursday. Shares of the pharmaceuticals giant, which have soared 60% year-to-date, were up 0.2% Tuesday morning, at $587 apiece. (Jim Cramer’s Charitable Trust is long PG, SBUX, LLY. 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.
Related posts:
- The importance of sensing, analysing, and responding at speed for future supply chain planning
- Aggressive marketing strategy to help tap $112 bn export potential in 10 countries in three years: Study
- Why do we irrationally spend money on things we cannot afford during a cost-of-living crisis? | Jessica Rozen
