CNBC Investing Club with Jim Cramer: Key Moments from Monday’s Morning Meeting
The CNBC Investing Club with Jim Cramer held its Morning Meeting livestream at 10:20 a.m. ET on Monday, discussing the latest developments in the stock market. Here are the key moments from the meeting:
1. U.S. equities experienced pressure on Monday, with the S & P 500 down 0.16% in midmorning trading. Despite this, Club names like Alphabet (GOOGL), Meta Platforms (META), Amazon (AMZN), and Apple (AAPL) have seen gains in the last two weeks. These gains have been driven by a retreat in bond yields, highlighting the importance of doing thorough research on quality stocks regardless of the market conditions. Bond yields remained little changed on Monday morning, with the 10-year Treasury hovering above 4.6%.
2. Novo Nordisk (NVO) presented the full results of a study on its weight-loss drug, Wegovy, showing a 20% reduction in the risk of major adverse cardiovascular events. This positive data is expected to increase prescriptions of GLP-1s and support broader insurance coverage, benefiting Novo’s chief rival, Eli Lilly (LLY).
3. Analysts at Piper Sandler believe that Microsoft’s (MSFT) Ignite conference, starting on Wednesday, could be a catalyst for the company’s stock. The conference is expected to provide updates on the company’s artificial intelligence assistant and other enterprise products.
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