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. 1. Wall Street is in rally mode to kick off the new trading week. The Nasdaq and Dow are both up around 1%, though the S & P 500 is not too far behind. Megacap tech names like Amazon and Alphabet are having strong days, supporting the Nasdaq. With its more than 4.5% advance Monday, Amazon has comfortably erased all of Friday's post-earnings losses, which Jim Cramer at the time saw as a buying opportunity . A big drop in crude prices, on hopes of a diplomatic solution to the Middle East conflict, is giving support to oil-related stocks, such as Boeing . We added to our position in the planemaker earlier Monday, as the dust settles on last week's cash-flow-guidance reset. Despite our fundamental reasons for sticking with Boeing, the stock's linkage to oil prices this year must be acknowledged. "If oil goes lower, Boeing goes higher no matter what," Jim said. 2. CrowdStrike…
CrowdStrike lands an upgrade, and Jim Cramer's advice on Apple ahead of earnings
In short
Major equity benchmarks climbed alongside gains in megacap names, while sinking crude prices prompted Jim Cramer’s CNBC Investing Club to expand its position in Boeing following an earlier guidance reset. CrowdStrike failed to join the tech advance despite receiving a Deutsche Bank upgrade, burdened by weak results across the cybersecurity industry from Check Point and Fortinet. Investors also turned their attention to Apple's post-closing quarterly report, which represents the company's inaugural financial release under newly appointed chief executive John Ternus.
Key points
- A steep decline in crude oil prices provided tailwinds that helped Boeing recover from it…: A steep decline in crude oil prices provided tailwinds that helped Boeing recover from its previous cash-flow guidance reset.
- Widespread earnings weakness from Check Point and Fortinet created sector-wide headwinds…: Widespread earnings weakness from Check Point and Fortinet created sector-wide headwinds that offset CrowdStrike's broker upgrade.
- Jim Cramer continues to advise investors to own Apple shares rather than trade them ahead…: Jim Cramer continues to advise investors to own Apple shares rather than trade them ahead of commentary on memory pricing and new iPhone demand.