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 Thursday’s key moments. 1. Stocks up big U.S. stocks surged Thursday on the latest inflation data, which revealed consumer prices rose less than expected for July. All 11 S & P 500 sectors were in the green after the print. The market currently expects no Federal Reserve interest rate hike in September despite central bank indications that one more is likely by year-end. Investors should be wary of buying on speculation over Fed tightening. Instead, look at the fundamentals for each company as earnings season continues. Although inflation has come off its 40-year highs last year, levels are far above the central bank’s 2% goal. 2. Bright spots at Disney Disney (DIS) rose roughly 3% in the session after the company reported mixed quarterly results late Wednesday. There was some softness in domestic parks, but the entertainment giant is still raking in more money than in 2019. Internationally, the quarter remained strong. We’re optimistic about Disney’s restructuring plan and streaming strategy, which gives us hope that CEO Bob Iger’s turnaround plan will work. The company said it’s raising prices on its ad-free version of Disney+ in a bid to migrate more users to the advertising tier. If successful, this will make the business more money. 3. Hold Estee Lauder Estee Lauder (EL) remains a hold despite a difficult operating environment on weakening demand in China. Shares are down roughly 32% year-to-date. Although the stock’s been “terrible,” Jim Cramer said he remains optimistic because of management’s track record, specifically CEO Fabrizio Freda, who he described as “one of the great performers of all time.” Estee Lauder reports its latest quarter a week from Friday. The stock plunged back in May on weak forward guidance following mixed fiscal third-quarter results. (Jim Cramer’s Charitable Trust is long DIS, EL. 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.
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 Thursday’s key moments.
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