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. The market opened lower on Monday following the S & P 500 ‘s run of nine straight sessions higher. Stocks came off morning lows after the ISM services index came in stronger than expected. The prices paid component, however, was much higher than anticipated, causing bond yields to rise. The May two-day Fed meeting begins Tuesday and ends Wednesday afternoon. No change in interest rates is expected despite President Donald Trump calling for cuts. Trump on Sunday posted plans to put 100% tariffs on films produced abroad, causing Disney to drop 3% at the open. The Club stock reversed slightly positive before noon ET. We will look for answers on what these levies mean for Disney when it reports earnings before Wednesday’s opening bell. 2 . Club stock CrowdStrike rose more than 2% after Citizens JMP raised its price target to $500 per share from $400. The analysts said, “In a quarter where our company checks trended slightly more toward the negative, CrowdStrike appears to be continuing its momentum in both core and new markets.” The Club recently trimmed shares of the cybersecurity company last week on Monday, a move led purely by discipline as the S & P Short Range Oscillator moved well into overbought territory. CrowdStrike reports earnings in the first week of June. 3. Consumer health is still strong, Wells Fargo CEO Charles Scharf told CNBC’s “Squawk on the Street.” Scharf also touched on regulatory and risk controls, saying a lot of the work Wells Fargo has done to clear other consent orders overlaps with the Federal Reserve-imposed asset cap. The bank is confident that it can get the asset cap removed, but still offered no time frame. “It’d certainly be a big win for the bank,” said Jeff Marks, director of portfolio analysis for the Club. (Jim Cramer’s Charitable Trust is long DIS, CRWD, WFC . 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.
