On Monday, the CNBC Investing Club with Jim Cramer provided a recap of the key moments during the “Morning Meeting” livestream. The U.S. stock market showed mixed results as Wall Street prepared for major inflation data to be released later in the week. The S & P 500 and Nasdaq Composite saw gains of 0.4% and 0.7% respectively, while the Dow Jones Industrial Average was slightly lower after the opening bell.
The producer price index (PPI) reading for July was scheduled to be released on Tuesday, followed by last month’s consumer price index (CPI) print on Wednesday. These monthly economic readings are essential factors that the Federal Reserve considers in its policy decisions. The CPI holds more weight with central bankers due to its focus on the consumer.
During the livestream, the CNBC Investing Club discussed their recent investment decisions. They purchased more Amazon shares on Monday, leveraging the tech stock’s decline following a disappointing post-earnings report earlier in the month. Despite the revenue miss and conservative third-quarter guidance, the Club remained confident in their long-term investment thesis for the e-commerce giant.
Deutsche Bank upgraded Eli Lilly to a buy from hold rating after the company reported strong quarterly earnings. The analysts at the firm highlighted Lilly’s long-term revenue growth forecast and raised its price target to $1,025. The CNBC Investing Club expressed familiarity with Lilly’s competitive advantage in the GLP-1 space, emphasizing their confidence in the stock.
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