Jim Cramer’s CNBC Investment Club hosts a “Morning Meeting” livestream weekdays at 10:20 a.m. ET. A recap of Monday’s key moments. 1. The S&P 500 rose to the start of the new month as investors shrugged off Friday’s more than 30% decline in silver and Bitcoin’s first weekend drop below $80,000 since last April. Jim Cramer said investors should not sell stocks in reaction to the performance of metals or cryptocurrencies, although there are some “side currents” affecting the market. “That’s a mistake,” Jim said, referring to Friday’s stock market sell-off. “We don’t do that. This is a truer market,” he said, referring to Monday’s action. It’s a busy week for club revenue, with Eaton, Eli Lilly, Alphabet, Bristol-Myers, Linde and Amazon all reporting this week. 2. NVIDIA’s $100 billion contract with OpenAI is “on ice,” according to the Wall Street Journal, which claims that Nvidia CEO Jensen Huang personally criticized OpenAI’s lack of discipline. Jensen refuted that claim this weekend. Jim believes the media headlines are misleading and says that due to the structure of the deal, Jensen is waiting for OpenAI’s true evaluation before making a full commitment. “You can’t say, ‘I want to buy 100 billion of this,’ without knowing whether the company is going to be valued at $800 billion or $1 trillion,” Jim said. “There’s no reason to commit. But what he (Jensen) has said is he wants to participate.” 3. Eaton’s stock rose about 1.4% more on Monday ahead of Tuesday morning’s earnings. Shares rose just 6% last week after the power management company announced a spinoff of its mobility business. “This is not the sum of the parts, but rather a move from shrinkage to growth as the market values the long-term part of the business,” said Jeff Marks, the club’s director of portfolio analysis. Eaton’s last few quarters haven’t been great. However, the theory of long-term electrification and AI data centers is strong. The club would like to see the company return to its habit of quarterly beats and guidance hikes. 4. Stocks featured in Monday’s rapid fire at the end of the video were Disney, Best Buy, Cotera Energy, Devon Energy, McDonald’s, and Humana. (Jim Cramer’s charitable trusts are long GOOG, AMZN, ETN, BMY, LLY, LIN, NVDA. See here for a complete list of stocks.) As a subscriber to Jim Cramer’s CNBC Investment Club, you will receive trade alerts before Jim makes a trade. After Jim sends a trade alert, he waits 45 minutes before buying or selling stocks in his charitable trust’s portfolio. If Jim talks about a stock on CNBC TV, he will issue a trade alert and then wait 72 hours before executing the trade. The above investment club information is subject to our Terms of Use and Privacy Policy, along with our disclaimer. No fiduciary duties or obligations exist or arise from your receipt of information provided in connection with the Investment Club. No specific results or benefits are guaranteed.
