Every weekday, the TBEN Investing Club will host a “Morning Meeting” live stream with Jim Cramer at 10:20 AM ET. Here’s a recap of Monday’s key moments. Watch Consumer Price Report Cut Overvalued Tech Stocks Watch Oil As China Reopens 1. Look For Consumer Price Report Stocks rose Monday, with the 3 major indices all up in mid-morning trading following Friday’s strong rally. The market shot up late last week after signs that inflation may be slowing and the economy is cooling. Investors look ahead to the U.S. Labor Department’s monthly consumer price index for December, to be released Thursday. Any further evidence of price moderation could allow the Federal Reserve to slow its pace of rate hikes, potentially strengthening stocks. The S&P 500 was up more than 1.3%, the Dow Jones Industrial Average was up 0.85% and the Nasdaq Composite jumped more than 2%. 2. Cut Overvalued Tech Stocks We trimmed our positions in Microsoft (MSFT) and Nvidia (NVDA) on Monday to reduce our exposure to high-multiple tech companies ahead of earnings season. If companies with high multiples fail to meet high earnings expectations – which is likely due to the state of the economy – their stocks are likely to take a beating. Microsoft will report quarterly figures later this month and Nvidia in February. 3. Watch oil as China reopens Oil prices started the week up on expectations of renewed demand from China as the world’s second-largest economy exits its zero-Covid policy and reopens after 3 years. West Texas Intermediate (WTI) crude oil – the US oil benchmark – was up about 2% by midmorning to $75.31 a barrel. Shares of Club oil stocks Halliburton (HAL), Coterra Energy (CTRA) and Devon Energy (DVN) followed Monday. Pioneer Natural Resources (PXD), our other energy holding company, fell as a result of a KeyBanc downgrade. (Jim Cramer’s Charitable Trust is long MSFT, NVDA, HAL, CTRA, DVN, PXD. See here for a full list of the shares.) As a subscriber to the TBEN Investing Club with Jim Cramer, you 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 charity’s portfolio. If Jim has talked about a stock on TBEN TV, he will wait 72 hours after the trade alert is issued before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY, TOGETHER WITH OUR DISCLAIMER. NO FIDUCIAL OBLIGATION OR DUTY EXISTS OR IS CREATED BY YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
