Every weekday, the CNBC Investing Club hosts a “Morning Meeting” live stream with Jim Cramer at 10:20 am ET. Here’s a recap of Monday’s key moments. We Like Industrials Believe in Amazon Still Bullish on LLY 1. We Like Industrials Wall Street was lower on Monday, particularly the Nasdaq, which continued last week’s losses. Morgan Stanley said in a note that rising interest rates and inflation, along with a worsening earnings outlook, bode badly for stocks. However, we prefer to base our views on the economy on actual company results rather than just economic data. For that reason, we still like industrial stocks here. Second, we also like pharmaceutical and non-discretionary consumer goods companies. Some of our club names are Emerson Electric (EMR), our newest position starting last week, and Humana (HUM). 2. Believe in Amazon We bought 50 shares of Amazon (AMZN) on Monday, encouraged by the oversold market and the company’s ability to improve performance as it becomes aggressive with layoffs. Analysts at Atlantic Equities said in a note Monday that Amazon could deliver year-over-year margin growth in the first half of next year, citing opportunities for the company to boost margins in e-commerce and Amazon Web Services (AWS) respectively. to expand and stabilize. While we fear Amazon is part of the downside big tech, we believe it can stem the tide. 3. Still optimistic about Eli Lilly The Food and Drug Administration (FDA) has added Eli Lilly’s (LLY) new type 2 diabetes drug Mounjaro to its list of scarce drugs, highlighting strong demand for the drug. Mounjaro’s promise to treat obesity, a possible additional indication in studies, is central to our argument for the stock. Despite this shortage, we know that Eli Lilly plans to double its production capacity next year, and that demand could fall off the charts if regulators allow Mounjaro for obesity. (Jim Cramer’s Charitable Trust is Long AMZN, EMR, HUM and LLY. For a full list of stocks click here.) As a subscriber to CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling any stock in his charitable foundation’s portfolio. When Jim spoke about a stock on CNBC television, he waits 72 hours after the trade alert is issued before executing the trade. THE ABOVE INVESTMENT CLUB INFORMATION IS GOVERNED BY OUR TERMS AND CONDITIONS AND PRIVACY POLICY ALONG WITH OUR DISCLAIMER. NO OBLIGATION OR OBLIGATION SHALL BE OR CREATED BY YOUR RECEIVING OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC RESULT OR PROFIT IS GUARANTEED.
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