CNBC’s Investing Club with Jim Cramer hosts a live “Morning Session” every weekday at 10:20 a.m. ET. Here’s a recap of Tuesday’s key moments. 1. US stocks were mixed on Tuesday, renewing some of the early 2024 pressure we saw on Wall Street last week. The Nasdaq turned positive on Tuesday as Nvidia hit another all-time high. The tech-heavy index rose more than 2% on Monday. Taking the pressure off tech stocks this week, the 10-year Treasury yield was fairly steady around 4%. Key for markets later in the week are two inflation reports: the consumer price index for December on Thursday and the producer price index on Friday. 2. Wall Street analysts appear to have mixed opinions about the Wells Fargo club name ahead of Friday’s earnings. Deutsche Bank downgraded shares of Wells Fargo to hold from buy, citing a potentially weaker net interest income outlook and limited appreciation. HSBC, on the other hand, raised its price target on Wells Fargo to $55 per share from $45, but maintained its rating. Overall, we don’t blame anyone for being cautious about banks until we get quarterly results, as stocks have improved nicely through the year-end in 2023. 3. We bought more Coterra Energy on Tuesday. for greater exposure to natural gas as prices rise. The club added 300 shares to its portfolio. That increased the weighting of the 50/50 gas and oil producer to 2.17% from 1.92%. Coterra is our only energy game. We are bullish on the stock because of its solid balance sheet and management’s ability to use capital efficiently. We think this will result in more money being returned to investors. (Jim Cramer’s Charitable Trust is long NVDA, WFC, MS, CTRA. Here’s a full list of stocks.) As a CNBC Investing Club with Jim Cramer subscriber, you’ll receive a trade alert before Jim executes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling shares in his charitable trust’s portfolio. If Jim was talking about stocks on CNBC TV, he waits 72 hours after the trade alert is issued before he executes the trade. THE ABOVE INVESTMENT CLUB INFORMATION IS SUBJECT TO OUR TERMS AND PRIVACY POLICY ALONG WITH OUR DISCLAIMER. NO FIDUCIARY OBLIGATION SHALL EXIST OR CREATE BY YOUR ACCEPTANCE OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTMENT CLUB. NO PARTICULAR RESULT OR PROFIT IS GUARANTEED.
![Wall Street is mixed on Wells Fargo ahead of Friday's earnings. Here are the details](https://www.ibommatelugumovies.org/wp-content/uploads/2024/01/Wall-Street-is-mixed-on-Wells-Fargo-ahead-of-Fridays.jpeg)
Wall Street is mixed on Wells Fargo ahead of Friday’s earnings. Here are the details