Cramer says investors will soon ‘gravitate’ back to this megacap stock
Every weekday, CNBC Investment Club with Jim Cramer hosts a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Friday’s highlights. 1. On Friday, the stock market rose after Iran announced that the Strait of Hormuz was open to all commercial traffic following the ceasefire agreement reached between Israel and Lebanon. Oil prices fell, with West Texas Intermediate falling 14% to over $80 a barrel. “What we’re seeing is really a return to things that have been long overdue,” Jim Cramer said, referring to gains in travel and entertainment stocks. he said. The 10-year Treasury yield also fell to its lowest level since mid-March, sending housing-related names like Home Depot soaring. Signs that inflation is easing will allow new Fed Chairman Kevin Warsh to cut rates further, which Cramer believes will positively impact the economy. 2. Falling oil also increased transportation stocks and industry. Boeing shares rose more than 3%, while Honeywell and GE Vernova also rose 2%. Boeing will announce results before the opening bell next Wednesday. The company has already reported first quarter aircraft deliveries, so one of our focuses will be on orders and the size of the backlog. Following the recent reversal, we narrowed our Boeing position this week. As we wrote in the trading alert, we believe larger gains are ahead as deliveries rise and free cash flow generation increases over the next few years. 3. Bank of America analysts called Apple a “high-quality” stock and said the tech company appears to be insulated from AI volatility and is making progress in strengthening on-device AI capabilities. Jim said investors would be “pulled in” to Apple, with many rejecting Apple’s China sales. “No one was paying attention to the fact that China sales were so good,” Jim said. Separately, the Wall Street Journal reported on Friday that Apple’s Mac Mini has become popular among AI agent users. 4. At the end of the video, the stocks covered in Friday’s rapid fire were: Netflix, Clorox, Prologis, United Health and Affirm. (Jim Cramer’s Charitable Trust is BA, APPL, GEV, HON, and HD. See here for a full list of stocks.) When you subscribe to the CNBC Investment Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trading alert before buying or selling a stock in his charitable foundation’s portfolio. If Jim talked about a stock on CNBC TV, he would wait 72 hours after issuing the trading alert before executing the trade. THE ABOVE INVESTMENT CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY, TOGETHER WITH THE DISCLAIMERS. NO CIVIL OBLIGATIONS OR DUTIES EXIST OR SHALL BE RESULTING FROM YOUR RECEIVING ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTMENT CLUB. NO SPECIFIC RESULT OR PROFIT CAN BE GUARANTEED.
