The stock market has continued to gain momentum over the past three sessions, with the market being higher on Monday. One reason for the recent comeback is that the market has not been fighting bonds, as volatility in the bond market calmed down after Federal Reserve Chair Jerome Powell ruled out a rate hike as the committee’s next move. Yields moved lower after a softer-than-expected April jobs report on Friday. However, there is concern about the speed at which the rally has occurred, with the S&P Oscillator indicating overbought conditions prompting the trimming of a position to raise cash out of discipline.
Jim Cramer shared quick hits on specific stocks, noting that operational changes are needed for Starbucks following disappointing earnings results and suggesting that activist investors may get involved. The market’s attention has shifted to Apple’s upcoming events, such as the iPad event and Worldwide Developers Conference in June, where new AI features are expected to be announced. Nvidia is one of the market leaders on Monday, nearing its all-time high close after a correction in April, while Eli Lilly is making a solid comeback after a choppy week following positive sales outlook news.
Earnings releases from companies like Palantir, Axon Enterprise, and Simon Property Group are expected after the bell, with Disney reporting on Tuesday before the opening bell. The focus will be on cost-cutting and narrowing losses at its direct-to-consumer business. Other notable earning releases include Celsius, Datadog, and Rockwell Automation, with subscribers to the CNBC Investing Club with Jim Cramer receiving trade alerts before Jim makes a trade. Jim follows a specific protocol before executing trades, waiting for a set period of time after issuing a trade alert to ensure that the information is provided in accordance with the club’s terms and conditions, privacy policy, and disclaimer.
As a member of the CNBC Investing Club with Jim Cramer, subscribers will receive the Homestretch daily updates, providing actionable information for the last hour of trading on Wall Street. The recent market gains have been attributed to a lack of conflict with bonds, as volatility in the bond market has calmed down after the Federal Reserve ruled out a rate hike. However, concerns about the speed of the rally and overbought conditions have led to a cautious approach, with positions being trimmed and cash being raised. Jim Cramer’s insights on specific stocks and upcoming events provide valuable information for investors looking to make informed decisions in the market.
