Every weekday the CNBC with Jim Cramer holds a "Morning Meeting" at 10:20 a.m. ET. Here's a recap of Monday 's key moments. 1.
The stock market rose on Monday, driven by AI leader Nvidia and other stocks. "There are people who are making money in every market today," Jim Cramer said.
"As you can see, rates are down [and] it is a jobs [report] week.
It looks people are just ignoring this [possible government] shutdown entirely." Jeff Marks, director of portfolio analysis for the , added, "I don't think people should be trading on these headlines." Jim called out recent comparisons of the AI buildout to the dot-com bubble in his Sunday think piece, which he said is designed "to counter what everybody's been saying" and "explain why it [the AI trade] can go higher." 2.
Nike , the 's portfolio addition , reports earnings next Tuesday. "There's been tremendous inventory stuck in the channel, including at Foot Locker .
They are working that off," said Jim, referencing the apparel giant's excess supply coming out of the pandemic.
"As soon as they're done with the inventory and start introducing new things, then Nike's going to return to its great growth," Jim said.
Jim has faith in CEO Elliot Hill's ability to turn the company around and wants to be in on the stock early. But Jim stressed, "It's not a play on the quarter.
It's a play on a longer-term Elliot Hill turn. He's really terrific." 3. Costco's stock is a "bargain," right now if you ask Jim.
Of the stock's recent decline ing a stronger-than-expected report last week, he added, "I'd actually want to buy some Costco.
I think this is absurd." Despite some disappointment with its membership renewals, "You're finally getting a chance to buy Costco below 50 times earnings, which is what we've been waiting for," Jim said.
Costco's stock is down roughly 1% year to date. 4. Stocks covered in Monday 's rapid fire at the end of the were: CSX , Electronic Arts , Barrick Mining , GSK PLC , and Carnival .
(Jim Cramer's Charitable Trust is long COST, NKE, NVDA. See here for a full list of the stocks.) As a r to the CNBC 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 a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.
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