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Environment

Solar stocks are winners from the presidential debate and we’ve got one primed to run

adminby admin September 11, 2024 0
Solar stocks are winners from the presidential debate and we've got one primed to run

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 Wednesday’s key moments. 1. The S & P 500 erased much of its earlier losses Wednesday as September continued to live up to its reputation as a volatile month. The in-line August consumer price index didn’t change the market bet on a quarter-point interest rate cut by the Fed at next week’s meeting. The presidential debate Tuesday night didn’t give investors any real reasons to change their views on the broader market. “If you’re acting on anything that you saw this morning or last night, then you’re acting out of fear, not out of strength,” Jim Cramer said Wednesday. “There’s nothing there.” 2. If there were any winners from the debate, solar stocks would be it. Both Kamala Harris and Donald Trump said they are in favor of renewable energy. That helped shares of Club name Nextracker rally more than 6% in Wednesday’s volatile market. “What [Nextracker] does is make solar fields more efficient,” Jim said. “That is just a classic case of what you want,” with solar playing a significant role in the generation of energy in the United States in the years to come. Other solar stocks such as Array and First Solar were soaring as well. 3. Shares of Morgan Stanley dropped 1% on Wednesday after Goldman Sachs research analysts downgraded the portfolio-held bank to a neutral rating from buy. Analysts believe other banks are better positioned to gain from the capital markets recovery. They also said Morgan Stanley’s stock valuation is expensive relative to its peers. Jim has been frustrated with Morgan Stanley, saying it needs to figure out what to do with E-trade. He added he would rather Goldman Sachs shares than Morgan Stanley. It’s something he’s still thinking about. 4. Stocks covered in Wednesday’s rapid fire at the end of the video were Williams-Sonoma , Campbell Soup , Viking Therapeutics , Dave & Buster’s , and Shopify . (Jim Cramer’s Charitable Trust is long NXT, MS. 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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