MY NUMBER 1 RECOMMENDATION TO LOSE WEIGHT: CLICK HERE
Every weekday, the CNBC Investing Club with Jim Cramer hosts “The Morning Briefing” live at 10:20 a.m. ET. Here’s a recap of Monday’s key moments. Fed and Jobs Report Stick with China Stocks Reopen Watch Eli Lilly 1. Fed and Jobs Report Stocks traded higher on Monday as investors await comments from the Federal Reserve and new economic data later this week. Fed Chairman Jerome Powell will testify on monetary policy before Congress on Tuesday and Wednesday. His remarks are expected to offer further signals on the way forward for further rate hikes to tackle sticky inflation. The February jobs report will be released on Friday, and the focus will be on wage growth as a metric. Higher-than-expected average hourly earnings could mean higher interest rates for a longer period of time and cause market volatility. 2. Hold on to reopening Chinese inventories Oil prices rallied on Monday, reversing earlier declines, after China announced a cautious target of around 5% of GDP for 2023. This is only a modest increase given that China’s the government steered towards reopening the economy and away from its zero-Covid policy. However, we do not see China’s GDP target as a reason to change our investment thesis on Club holdings with strong China exposure, such as Estee Lauder ( EL ), Starbucks ( SBUX ), and Wynn Resorts ( WYNN ). China is a huge growth market for any company, and improving economic activity in the region is expected to be a catalyst for these stocks tied to the Chinese consumer. 3. Check out Eli Lilly Jefferies initiated coverage on drugmaker Eli Lilly ( LLY ) with a Hold rating and a $290 price target per share. Analysts believe the stock is “priced to perfection” at current levels of around $318. The company is bullish on Mounjar, Lilly’s new diabetes treatment, which is also under review for obesity. Jefferies estimates that peak sales will be $40 billion. However, analysts are more conservative about long-term margins for the pharmaceutical giant’s Alzheimer’s program. Mounjar’s potential in weight loss, rather than Lilly’s work in Alzheimer’s disease, is why we have the stock as a large position in our portfolio. We would like to add more stocks under $300. (Jim Cramer’s charity fund is EL, SBUX, WYNN, LLY debt. See here for a full list of stocks.) As a CNBC Investing Club with Jim Cramer subscriber, you will receive a trade alert before Jim closes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charity’s portfolio. If Jim talked about a stock on CNBC, he waits 72 hours after the trade alert is issued before he executes the trade. THE ABOVE INFORMATION IN THE INVESTING CLUB IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY TOGETHER WITH OUR DISCLAIMER. NO FIDUCIARY OBLIGATION OR DUTY SHALL EXIST OR BE CREATED BY YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO PARTICULAR RESULT OR PROFIT IS GUARANTEED.
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MY NUMBER 1 RECOMMENDATION TO LOSE WEIGHT: CLICK HERE
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