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. Stocks were subdued to start the week as Wall Street looks to keep its winning ways going. Last week, the Dow Jones Industrial Average secured its best weekly performance of 2024, up 2.16%, while the S & P 500 and Nasdaq advanced 1.85% and 1.14%, respectively. There was largely an “absence of news” last week, Jim Cramer noted, and yet stocks were still able to advance. “That’s a bull market,” Jim said. This week, though, inflation data will take center stage, with the release of the closely watched consumer price index Wednesday morning. Wholesale inflation data is out Tuesday. Apple shares jumped more than 1.5% Monday after Bloomberg News reported the company is nearing a deal with ChatGPT creator OpenAI to put its generative artificial intelligence technology in the next iPhone operating system. Apple declined Bloomberg’s request for comment. In general, we have argued that integration of the nascent tech into Apple’s flagship device will lead to a much-needed upgrade cycle. Investors should expect to hear more about management’s AI strategy at Apple’s annual Worldwide Developers Conference in June. Honeywell International shares rose more than 1% Monday, as the Club holding continues to rebound after a lackluster start to 2024. The stock is up about 8% since its low close of the year on April 17. However, don’t offload shares of the industrial conglomerate now that it’s gaining traction, Jim argued, adding that its newfound momentum may attract new investors. “Don’t sell Honeywell,” he said. “This stock has been stuck in the mud for ages.” The Club is staying long, in part, because the relatively new CEO, Vimal Kapur, can further streamline Honeywell’s vast business portfolio and lean into more lucrative areas. We added to our Honeywell position on April 10. (Jim Cramer’s Charitable Trust is long HON, AAPL. 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.
Jim Cramer sees more room for Honeywell to climb as the stock shakes off rough start to 2024
May 13, 2024
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