Jim Cramer’s Investing Club meeting Monday: Stocks rise, watching oil, Disney
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 start the week up Watching oil Sticking with DIS 1. Stocks start the week up Stocks rose Monday ahead of the release of the U.S. Labor Department’s monthly consumer price index (CPI) report and the Federal Reserve’s December meeting. Despite bearish commentary from bank executives about the slowing global economy, we expect the CPI report to demonstrate the Fed’s inflation strategy is working , evidenced in part by lower gasoline prices. Data on consumer prices is likely to influence the Fed’s decision over future interest rate hikes. The S & P 500 rose 0.52% in midmorning trading, while the Nasdaq Composite was up 0.32%. 2. Watching oil Oil prices climbed Monday morning, with West Texas Intermediate crude — the U.S. oil benchmark — up 3.7%, at $73.65 a barrel. Shares of oil stocks followed suit, including the Club’s energy holdings. But if oil were to come back down, we would consider adding shares of Devon Energy (DVN), or buying back some shares of Halliburton (HAL) that we trimmed earlier this month . 3. Sticking with DIS Morgan Stanley cut its price target on Disney (DIS) to $115 from $125, arguing that CEO Bob Iger is confronting secular and cyclical headwinds. But we’re sticking with Disney, particularly as we believe Iger won’t tolerate the dismal state of the entertainment conglomerate’s balance sheet. Shares of Disney were up around 0.77% Monday, at $94.15 a share. “Buy the heck out of the stock,” Jim Cramer said Monday. “This is my favorite, other than Constellation Brands (STZ).” (Jim Cramer’s Charitable Trust is long DVN, HAL, DIS, STZ. 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.
