Every weekday, CNBC Investing Club with Jim Cramer hosts a live broadcast of “Morning Meeting” at 10:20 a.m. ET. Here’s a recap of Thursday’s key moments. US stocks rose on Thursday, rebounding from Wall Street’s losses earlier in the week. Technology stocks showed strength, with Club titles Microsoft and Apple up more than 1%. All 11 sectors of the S&P 500 were in the green. The Treasury market calmed Thursday, with the yield on the 10-year Treasury note slightly lower ahead of the release of the monthly U.S. jobs report on Friday. Investor concerns over the Federal Reserve’s prolonged hold on interest rates may have led to a sluggish start to the second quarter, but Jim Cramer advised members not to speculate too much on the central bank’s next policy move American. “We will get as many reductions as we need,” he said. “We don’t guess how many because that’s what amateurs do.” Shares of Wynn Resorts rose 1.8% on Thursday after Mizuho Securities initiated coverage on the casino’s shares with a buy rating. Analysts have set a price target of $131 per share, implying an upside of about 23% from Wednesday’s closing price of $106.42 per share. The company expects earnings estimates in Macau to rise as business in the China gaming hub recovers. Analysts also said Wynn’s valuation was very compelling – sentiments the Club has held for some time. We strengthened our position at the end of February to almost $102 per share. Even if we don’t buy at current levels, we plan to hold on to the stock. Meanwhile, Jefferies raised its price target for Meta Platforms stock to $585 per share from $550, about 15% above its Wednesday closing price. Analysts argued that Meta’s share gains in the advertising market will continue to accelerate in 2024. In a separate note, the analysts also raised their price target on other clubs holding Amazon from $190 to $225 by action, saying there’s still plenty to be excited about. the e-commerce and cloud computing giant. The company’s new target implies an upside of more than 23% from Wednesday’s close. (Jim Cramer’s Charitable Trust is long WYNN, AAPL, META, MSFT and AMZN. See here for a complete list of stocks.) As a subscriber to CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim don’t do a business. Jim waits 45 minutes after a trade alert is sent before buying or selling a stock in his charity’s portfolio. If Jim talked about a stock on CNBC TV, he waits 72 hours after the trade alert is issued before executing the trade. THE ABOVE INVESTMENT CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY, AS WELL AS OUR DISCLAIMER. NO OBLIGATION OR FIDUCIARY OBLIGATION EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTMENT CLUB. NO SPECIFIC RESULTS OR PROFITS ARE GUARANTEED.
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