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. Stocks rise on inflation data Stick with Disney Watch Meta 1. Stocks rise on inflation data U.S. equities climbed higher Thursday following the release of the U.S. Labor Department’s monthly producer price index (PPI), which showed wholesale prices rose at a slower rate than expected in June. Coming on the heels of Wednesday’s consumer price index (CPI), the report provided further evidence that the Federal Reserve is gradually succeeding in its fight to rein in inflation. But with the stock market still overbought, according to the S & P 500 Short Range Oscillator , Jim Cramer said Thursday that “we have to temper our enthusiasm.” The S & P 500 rose 0.56%, while the Nasdaq Composite jumped more than 1%. 2. Stick with Disney In an interview with CNBC Thursday, Walt Disney (DIS) CEO Bob Iger said there is more work to be done to complete his restructuring plan at the beleaguered entertainment giant. While we were encouraged by Iger’s optimism about the company’s future, the myriad challenges the business currently faces — particularly at its linear television operations — likely means the stock could be stuck in a holding pattern until there is more clarity. But, “we’re willing to suffer through it,” Jim said. Shares of Disney were trading up 0.35% midday Thursday, at $90.46 apiece. 3. Watch Meta TD Cowen upgraded Meta Platforms Inc . (META) to an outperform, or buy, rating on Wednesday, citing the potential for more cost cuts at the technology giant. CEO Mark Zuckerberg’s willingness to rein in expenses, including through layoffs, has pleased us as inventors — and allowed Meta’s stock to soar more than 160% since the start of the year. TD Cowen also raised its price target on Meta to $345 a share, up from $220. Shares were trading up 1.6% Thursday, at more than $314 each. (Jim Cramer’s Charitable Trust is long META and DIS. 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.
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