Every weekday, CNBC Investing Club with Jim Cramer holds a livestream of the “Morning Meeting” at 10:20 a.m. ET. Here’s a recap of Monday’s key moments. U.S. stocks were mixed on Monday as Wall Street braced for key inflation data later this week. The S&P 500 and Nasdaq Composite rose 0.4% and 0.7%, respectively, while the Dow Jones Industrial Average slipped 0.1% after the market closed. The producer price index (PPI) for July might be released Tuesday, and last month’s consumer price index (CPI) is scheduled for Wednesday morning. Those are two key monthly economic readings that the Federal Reserve aspects into its next monetary policy motion — though the CPI carries more weight with central bankers due to its deal with the buyer. The club bought more Amazon shares on Monday, profiting from the post-earnings announcement decline in tech stocks since earlier this month. Management reported a decline in revenue and issued conservative third-quarter guidance on Aug. 1, sending the stock price down 10%. No longer constrained, we’re profiting from the dip as our long-term investment thesis for the e-commerce giant hasn’t modified. One only has to take a look at the potential for revenue growth in the corporate’s cloud business, Amazon Web Services, which stays in demand resulting from increased investment in artificial intelligence infrastructure. Deutsche Bank upgraded Eli Lilly to “buy” from “hold” on Monday after the corporate delivered a blowout quarterly report last week. Analysts at the corporate argued that the outcomes “helped calm nerves in a volatile environment,” adding that the corporate’s long-term revenue growth forecast is sort of unmatched within the booming weight-loss drug market, aside from its rival Novo Nordisk. Deutsche Bank also raised its price goal on Lilly to $1,025 apiece from $725, representing a few 15% increase from Friday’s closing price. But this Wall Street sentiment is nothing recent to us. We’ve touted Lilly’s competitive edge within the GLP-1 space. (Jim Cramer’s Charitable Trust is long AMZN, LLY. A full list of stocks could be found here.) As a subscriber to CNBC Investing Club with Jim Cramer, you may receive a trade alert before Jim makes a trade. After sending a trade alert, Jim waits 45 minutes before buying or selling a stock from his Charitable Trust’s portfolio. If Jim has discussed a stock on television, he’ll wait 72 hours after the trade alert is issued before executing the trade. THE INVESTING CLUB INFORMATION DESCRIBED ABOVE IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY AND OUR DISCLAIMER. NO FIDUCIARY OBLIGATION OR DUTY EXISTS OR IS CREATED BY RECEIVING ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO PARTICULAR RESULT OR PROFIT IS GUARANTEED.
