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 Thursday’s key moments. 1. Wall Street rallied Thursday on further evidence of a soft-landing scenario for the economy. Looking at broad strength across industries and a strong GDP report with cooling inflation, the Federal Reserve has “absolutely no reason” to cut interest rates anytime soon, Jim Cramer said Thursday. The S & P 500 was powering higher again after closing all-time highs for four sessions in a row. The rally has “gotten a little hot for me,” Jim said, expressing caution about bad stocks going up with the good stocks. There’s just “a little too much exuberance” in the market right now, he concluded. 2. That’s one of the reasons why we didn’t want to give back any of Caterpillar ‘s rise to all-time highs Thursday. One day after trimming half our position, we sent out a trade alert , telling members that we’re going to exit the rest of our position in the heavy equipment maker. Caterpillar stock has a history of falling on fourth-quarter earnings day, usually because management is so conservative with its year-ahead commentary. The shorts will be gunning for it. Caterpillar is set to report Q4 results on Feb. 5. 3. We’re adding another stock to our Bullpen watch list: chemical giant Dow Inc. “I am interested in Dow chemical,” Jim Cramer said after speaking with CEO Jim Fitterling. Dow raised prices on polyethylene, one of its key commodities. The company also said China is already better. Cramer thinks Dow could pop when the Fed does eventually cut rates. “This is not DuPont ,” he said, referring to the Club name’s horrible preannouncement and stock drop. We said Wednesday we would not look to buy back DuPont shares we trimmed last week. We also cut our DuPont price target. (Jim Cramer’s Charitable Trust is long DD. See here for a full list of the stocks.) As a subscriber to the 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 a stock in his charitable trust’s portfolio. If Jim has talked about a 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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