Jim Cramer discusses why he believes these FTC-targeted stocks are buys. Become a CNBC Investing Club member to go behind the scenes with Jim Cramer and Jeff Marks as they talk candidly about the market’s biggest headlines. Signup here: cnbc.com/morningtake
Squawk on the Street
Cramer's Morning Take: Amazon, Alphabet & Apple 6/28/24
Jim Cramer discusses why he believes these FTC-targeted stocks are buys. Become a CNBC Investing Club member to go behind the scenes with Jim Cramer and Jeff Marks as they talk candidly about the market’s biggest headlines. Signup here: cnbc.com/morningtake
CNBC Investing Club Disclaimer
- Duration:
- 4m
- Broadcast on:
- 28 Jun 2024
- Audio Format:
- mp3
What's on the horizon for financial markets? At PJIM, it's a question that over 1,400 investment professionals relentlessly research in pursuit of your long-term goals. Specialised across asset classes, but united in collaboration, our teams provide global and local expertise. Our investments shape tomorrow, today. Pursue your tomorrow with PJIM, a leading global asset manager. I'm Jim Kramer, and you're about to hear a sample taken directly from today's CMEC Investing Club morning meeting. I do want to talk initially about the macro and its relation to the debate last night. There are many people who initially were not sure what to do, but it's kind of like a ground spall in the last 15 minutes, saying that it looks like, well, you can pull forward but might be a Trump victory. So, therefore, go over the industries and see who has been most punished, or is considered to be the most punishable, and that means you can go by the banks. It means you can go by the natural gas and energy stocks. You can even buy companies that have been over-regulated. You might think that the drug companies are not related, so it's about regulation that people like. Let's go back to the macro for a second. We got a very good PCE number. Some people feel that's the Fed's preferred number. It's an inflation number, which shows very little inflation in the system, which then causes interest rates to go up. Now, how interesting is that? I thought interest rates would go up on the PMI, which came in at 947, and it was hot. It didn't matter, because what matters is the fact that inflation seems to be peaking. Now, before you get too excited, remember, Paul is one of the first people to go. Trump has disliked him intensely, even though he's his guy. I think that's a shame. I've always been very upfront that I think Paul is a terrific Fed chief. Now, let's go over to the portfolio itself. You'll see Wells Fargo go up. That's probably one of the better ones that can go up in the situation. Morgan Stanley is lagging behind. That makes no sense to me. I'd be a buyer Morgan Stanley because they are involved with the M&A, which has obviously been hurt by the FTC and the Justice Department, and the companies that have been most hectored by the FTC and the Justice Department are Amazon, Alphabet, Apple. All three, I think you can therefore buy right here on that if you do like them, and I do happen to like them very much, and in the portfolio, Apple's really breaking out here. The ones that are really being hurt are companies that look a lot like, unfortunately, like Starbucks and like Estee Lauder, which is the companies that are leaving to China and Nike, it's a really, really bad number. Interesting enough, Matt Horwing pointed out to me is my writing partner and also goes to great friends and account for me, is that what's going on in the case of Apple in China is that even if the government may be preferring Huawei, which is their competitor, once the Apple cut its price, Apple's number soared. So again, there's a reason why you want to own Apple. Watch your day with my outlook on the daily market every morning at 10 20 a.m., visit cmbc.com/morningtake to access all the benefits of being a CNBC investing club member. All of the news expressed by Jim Kramer on this podcast and in connection with the CNBC investing club are solely Kramer's opinions and do not reflect the opinions of CNBC, NBC Universal, or their parent company or affiliates, and may have been previously disseminated by Kramer on television, radio, internet, or another medium. No specific outcome or profit is guaranteed in connection with your reliance upon or other use of the content from Kramer. The opinions offered in connection with this podcast and the CNBC investing club are not an attempt to induce any particular trading behavior, investment, or strategy. You should be aware of the risk of loss in following any strategy or investment discussed in the content from Kramer. To view the full CNBC investing club disclaimer, please visit cmbc.com/investingclubdisclaimer. Earning your degree online doesn't mean you have to go about it alone. At Capella University, we're here to support you when you're ready. From enrollment counselors who get to know you and your goals, to academic coaches who can help you form a plan to stay on track, we care about your success and are dedicated to helping you pursue your goals. Going back to school is a big step, but having support at every step of your academic journey can make a big difference. Imagine your future differently at cappella.edu. [BLANK_AUDIO]