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. Stocks mixed Stocks were mixed Monday morning ahead of negotiations between President Joe Biden and House Speaker Kevin McCarthy over raising the debt ceiling . The U.S. government is hurdling toward a potential default in early June. Oil prices were mainly flat, with West Texas Intermediate crude trading at just under $72 a barrel. Treasuries yields were mostly high mid-morning. Minneapolis Federal Reserve President Neel Kashkari told CNBC early Monday that a potential pause in interest rate hikes next month would not mean the central bank is done with its monetary-policy tightening going forward. 2. Stick with Apple Loop Capital on Monday downgraded Club holding Apple (AAPL) to hold from buy, citing “material downside risk” to the iPhone maker’s June quarter revenue. The firm maintained a price target of $180 per share. The downgrade is based on revised iPhone build-and-ship estimates, but we always remain wary of analysis on supply chains given the lack of concrete data. Apple remains our largest position in the Club portfolio, at roughly 5.8%. From a portfolio management perspective, we could potentially look to trim Apple slightly given its recent strength and 34% increase year-to-date. While maintaining our “own Apple, don’t trade it” mantra, we run a diversitfied portfolio and never want any one holding to get too big. 3. Watch Ford Club holding Ford (F) is holding an investor day Monday, during which CEO Jim Farley will outline plans to accelerate growth electric vehicles, while maintaining its traditional internal combustion engine fleet. The company on Monday announced a series of new battery deals for lithium products in an effort to boost its production of EVs. Ford maintains a target of an 8% profit margin on its EV division and a 2 million EV production run-rate by 2026. Farley showed earlier this…
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