On CNBC’s Investing Club, Jim Cramer said investors should look at five stocks: Nvidia, Micron, GE Vernova, Linde and TJX Companies. He argued that weaker-than-expected September nonfarm payrolls growth has reduced the chances of another Federal Reserve rate increase at its October meeting.
The article says the rethink on rates had already begun after cooler inflation data earlier in the week. Following the jobs report, stocks rallied and bond yields initially moved lower. The S&P 500 and Nasdaq held on to their gains even as yields later edged back up.
Cramer highlighted Nvidia after Morgan Stanley reinstated the company as its top semiconductor pick. He also pointed to Nvidia's $235 billion buyback plan. On Micron, he said he is looking for a major share repurchase once CHIPS Act grant restrictions are lifted in early December, and he cited the company’s strong quarterly results.
GE Vernova made the list because of its exposure to data center build-outs. Cramer said the company’s natural gas turbines help power data centers and noted that the stock remains well below its June highs. He also named Linde, saying industrial names still offer opportunities after the company’s investor day focused on space and electronics.
The fifth pick was TJX Companies. Cramer acknowledged that the retailer’s fiscal second-quarter report in August was disappointing, but said he still backs CEO Ernie Herrman, who told investors that fixes were implemented quickly and were already starting to help in the current quarter. The story notes that Cramer’s charitable trust is long NVDA, MU, GEV, LIN and TJX.
