Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Monday’s key moments. 1. Wall Street was mixed Monday after the Dow , the S & P 500 and the Nasdaq finished higher for the fourth straight week. With the last trading day of November on Thursday, the main stock benchmarks were tracking for monthly gains. The market got here out of last week’s rally very overbought, in accordance with the S & P 500 Short Range Oscillator , which signals to us to boost money. 2. That is exactly what we did Monday morning, taking some profits in Alphabet (GOOGL). Since our last trim in May, Alphabet has rallied greater than 25%, outperforming the S & P 500’s gain of about 10%. Alphabet has recovered all its third-quarter earnings selloff. Outperformance has caused the position to re-swell – so trim . The sale isn’t reflective of a change in our longer-term thesis on Alphabet. 3. GE Healthcare (GEHC) was downgraded to sell from neutral at UBS, which also cut its price goal on the stock to $66 per share from $86. The analysts consider soft order momentum and hard comps will put 2024 earnings before interest and taxes (EBIT) 4% below consensus with room for downside if China’s economy weakens next yr. Jim Cramer took issue with the note, saying Monday that GEHC’s body scan machines are key within the administration of a recent class of Alzheimer’s drugs. That is an enormous opportunity. “It’s AI mixed with MRI” to find out who qualifies, Jim added. (Jim Cramer’s Charitable Trust is long GOOGL, GEHC. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you’ll receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked a few stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
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