Every weekday, CNBC’s Invest Club hosts a live “Morning Meeting” with Jim Cramer at 10:20 a.m. ET. Here’s a recap of Monday’s key moments. We Love Industries Belief in Amazon still stands out at LLL 1. Industrials We Love Wall Street was lower on Monday, especially as the Nasdaq continued losses from last week. Morgan Stanley said in the note that rising interest rates and rising inflation, as well as a worsening earnings outlook, do not bode well for stocks. However, we prefer to get readings about the economy from real companies’ results rather than simple economic data. To that end, we still like industrial stocks here. Secondly, we also like pharma and non-exempt consumer goods companies. Our club pairs are Emerson Electric (EMR), our new position launched last week, and Himana (HUM). 2. Belief in Amazon We bought 50 shares of Amazon (AMZN), encouraged by the oversold market and the company’s potential to improve performance if aggressive with layoffs. Atlantic Stocks analysts said in a Monday note that Amazon could deliver year-on-year profit growth in the first half of next year, citing opportunities for the company to expand and stabilize margins in e-commerce and Amazon Web Services (AWS), respectively. . While we worry that Amazon is part of the Big Tech group, we believe it can weather the tide. 3. Still down on Eli Lilly The Food and Drug Administration (FDA) has added Eli Lilly’s ( LLI ) new type-2 diabetes drug Mounjaro to its short-list of drugs, underscoring strong demand for the drug. Monjaro’s promise as an obesity treatment, may now be further evidence for trials in our cattle case for stock. Now we know that despite this shortage, Eli Lilly plans to double its production capacity next year, and if regulators allow Mounjaro to grow fat, demand could be off the charts. (Jim Cramer’s philanthropy is long AMZN, EMR, HUM and LLY. See here for a full list of stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you’ll receive trade alerts before Jim trades. Jim waits 45 minutes after sending a trade alert before buying or selling stocks in his charity portfolio. If Jim talks about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. The above Investment Club information is subject to our terms and conditions and privacy policy along with our liability. No obligation or liability shall arise, or arise, as a result of your acceptance of any information provided in connection with the Invest Club. No specific results or profits are guaranteed.
