We tend to see these names move inversely to rates. Club laggards: GE Healthcare and Stanley Black & Decker were lower. "I think it's a huge stretch and I'm not buying into it." In other words, our China-tied stocks might not get any ripple-effect benefit. "People feel like China's problem is going away today," Jim said. However, Jim said he's not convinced that on China's apparent rescue package. Estee Lauder was higher, possibly on China taking steps to stabilize its stock market. Ford was also having a good day, and so were our banks Wells Fargo and Morgan Stanley. Club winners: Names doing well Tuesday were Meta Platforms after Citi raised its price target to $440 per share from $425. We're moving our rating on P & G stock to a 2, because the stock was up on a spike not typical for a defensive stock like this. That's how it was able to get a huge gross margin upside in its latest earnings report. Bucking the trend: However, inflation at P & G has gone down with input costs coming in lower. That put them at valuations that reflected sanguine times compared to what we're seeing in 2024 guidance, which hasn't been that great. What happened was a lot of stocks rallied in November and December as Fed interest rate cuts started to get priced into the market, starting as early as March. This hasn't been good for some stocks that performed well into the end of 2023. "This is not what we want to hear," he said. Inflation still here: Jim Cramer said Tuesday he's observed that companies are still dealing with inflation. Meanwhile, Johnson & Johnson beat but the stock was lagging and 3M got slammed. Some standouts to the upside were Verizon and Club name Procter & Gamble. Choppy day: The market was lacking momentum in either direction as it digested a slew of Dow industrial component earnings reports. Personal Loans for 670 Credit Score or LowerĮvery weekday the CNBC Investing Club with Jim Cramer releases the Homestretch audio feature in time for the last hour of trading on Wall Street. Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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