Market Data 
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. The S & P 500 rose 1.3% Monday, rebounding from its worst weekly performance since April. Club holding Nvidia pushed the benchmark gauge higher as shares jumped 3%, clawing back gains from last week’s 8% pullback. The market remains in overbought territory. We trimmed our position in Estee Lauder on Monday due to the lack of positive catalysts for the stock, and to further free up cash for better opportunities. On Sunday, President Joe Biden dropped out of the 2024 presidential race and endorsed Vice President Kamala Harris as the democratic party’s nominee. Jim Cramer said Harris is “much more pro tech” than Biden or presidential candidate Donald Trump. “She knows the landscape,” Jim said. “She’s got friends in Silicon Valley.” Club holdings Meta Platforms and Alphabet advanced roughly 2%, while Apple and Microsoft shares edged 1% higher. Citigroup said investor sentiment for Broadcom is catching up to peer Nvidia on more artificial intelligence customers and its acquisition of VMware. We’re glad to see Broadcom getting the recognition it deserves. Meanwhile, the Wall Street analysts argued that hedge funds have become more bearish on fellow portfolio name Advanced Micro Devices . This is because of fears to a cut in management’s sales outlook for MI300, the company’s crucial AI accelerators chips. Both Citi and the Club disagree with this narrative, given management’s positive commentary on the chips last quarter. (Jim Cramer’s Charitable Trust is long MSFT, NVDA, GOOGL, AAPL, MSFT, EL, AMD, AVGO. 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.
