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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 were bouncing back Monday after selling off Friday in reaction to a weaker-than-expected July jobs report. The surprise miss, along with negative revisions to the prior two months, has shifted the market’s view on interest rates. “The economy is weaker, the Fed should cut — and if they cut, I think the market is going to go higher,” Jim Cramer said Monday. “Therefore, I like our portfolio even more.” Federal Reserve Chairman Jerome Powell has been holding off on lowering borrowing costs to see how the still-evolving tariffs impact inflation. President Donald Trump has been pressuring Powell to cut. 2. Jim Cramer advised investors to buy Wells Fargo and Capital One if they don’t already own positions. We trimmed our big position in Wells Fargo last week as shares finally recovered from their post-earnings decline two weeks ago. The sale doesn’t reflect a change in our long-term thesis, but a move made out of discipline to right-size our position and lock in gains. Last week, we bought more shares of Capital One after the stock pulled back despite the credit card company reporting a strong second quarter . As for our third bank holding, Goldman Sachs , Jim said it’s “not a time to buy” for new investors since the stock has already moved up a lot. 3. Jim remains bullish on Apple whose stock climbed 1.5% on Monday following last week’s “amazing quarter” of top and bottom line beats. “I continue to like Apple here with the quarter being good and people realizing that maybe the tariff [impact] is not as negative as we thought,” Jim said. Despite potential tariff headwinds, Apple offered solid guidance for its September quarter. Jim also praised CEO Tim Cook’s comments about “significantly” growing investments in artificial intelligence and that management was open to making an acquisition to accelerate its AI roadmap. Longer term, Jim is optimistic about the future of the Apple Card, a credit card issued and managed by Goldman Sachs in 2019. Apple is nearing a deal with JPMorgan to replace Goldman, CNBC sources said . (Jim Cramer’s Charitable Trust is long WFC, COF, GS, AAPL. 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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