Jim Cramer’s CNBC Investment Club hosts a “Morning Meeting” livestream every weekday at 10:20 a.m. ET. A recap of Monday’s key moments. 1. The S&P 500 fell on Monday after hitting a new high on Friday as artificial intelligence and data centers ramped up. Even if oil prices rise, it’s AI that’s driving the market, Jim Cramer said. Our four largest hyperscalers, Amazon, Alphabet, Meta Platforms, and Microsoft, increased their combined AI spending commitments by more than 14% to $695 billion in line with last week’s report. That’s why Jim explained in his Sunday column that talk of an AI spending bubble was proven false this quarter. “[Investors]need to look at the huge web of business that data centers are creating and realize that this is by no means a small sector that is driving the market,” Kramer added. 2. Eaton stock rose slightly ahead of its earnings release Tuesday morning. Club Holdings has benefited from building data centers through electric and liquid cooling solutions, which is why the stock hit an all-time high last Thursday. “We’re selling just to make a profit, not because something went wrong,” Jim said, adding that Eaton is a well-positioned company. DuPont also reported on Tuesday morning. The Street will be most focused on the impact of the Middle East and high oil prices on the business, as well as Qnity’s continued operational improvements following its spin-off. 3. Corning stock rose slightly ahead of Wednesday’s analyst day. The stock has largely recovered from last week’s post-earnings decline and is still up more than 80% year-to-date. Investors are looking forward to updates on its long-term goals, as well as details on two new (but unnamed) hyperscaler deals that Corning announced last week. “Don’t sell this stock like Eaton,” Jim said. “These companies are getting into data centers and getting bigger every year.” 4. The stocks featured at the end of Monday’s video were GameStop, Advanced Micro Devices, Palantir, and Norwegian Cruise Lines. (Jim Cramer’s charitable trusts are long AMZN, META, GOOGL, MSFT, ETN, DD, GLW. 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.
