Investing Club: What we're watching Friday afternoon — tech rising, Danaher's big week, Boeing bump

Published Fri, Mar 18 20222:16 PM EDTUpdated Fri, Mar 18 20222:34 PM EDT

What the Club is looking at Friday afternoon Market on pace for its best weekly gains since November 2020. The S & P 500 index is up more than 4% for the week, while the tech-heavy Nasdaq Composite has gained more than 5% this week and is headed for its best week since February 2021. On Friday tech stocks led the market higher. Club holdings Salesforce (CRM) and Apple (AAPL) were among the top performers in the Dow, rising 3% and 1%, respectively. Meanwhile, Nvidia (NVDA), another Trust position, gained more than 5%. We are surprised Boeing (BA) isn't up more on the unconfirmed Reuters report that Boeing is nearing an order of up to 100 737 Max Jets from Delta Air Lines , but that means there could be a second bump if and when a deal is announced. Medical equipment maker and Club holding Danaher (DHR) is making a big push this week, up about 10%. Could some of it be due to worries of rising Covid-19 cases in Europe and the new subvariant of omicron, BA.2? We don't want Danaher to be viewed as a Covid-19 play, but we'll take this strong action. We added to our Danaher position twice last week. Despite the call for more interest-rate hikes, shares of Wells Fargo (WFC) have sat out the market rally the past two days. The reason: Although Wells Fargo has the most interest-rate sensitivity (meaning higher rates are better for net interest income), the bank also needs a steepening yield curve and the curve has been flattening. We are not too worried because this is also a restructuring/expense reduction and capital return story. (Jim Cramer's Charitable Trust is long AAPL, BA, CRM, DHR, 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. NOTES 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.

People walk along Wall Street near the New York Stock Exchange (NYSE) on February 16, 2022 in New York City.

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What the Club is looking at Friday afternoon

Market on pace for its best weekly gains since November 2020. The S&P 500 index is up more than 4% for the week, while the tech-heavy Nasdaq Composite has gained more than 5% this week and is headed for its best week since February 2021.

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On Friday tech stocks led the market higher. Club holdings Salesforce (CRM) and Apple (AAPL) were among the top performers in the Dow, rising 3% and 1%, respectively. Meanwhile, Nvidia (NVDA), another Trust position, gained more than 5%.

We are surprised Boeing (BA) isn't up more on the unconfirmed Reuters report that Boeing is nearing an order of up to 100 737 Max Jets from Delta Air Lines, but that means there could be a second bump if and when a deal is announced.

Medical equipment maker and Club holding Danaher (DHR) is making a big push this week, up about 10%. Could some of it be due to worries of rising Covid-19 cases in Europe and the new subvariant of omicron, BA.2? We don't want Danaher to be viewed as a Covid-19 play, but we'll take this strong action. We added to our Danaher position twice last week.

Despite the call for more interest-rate hikes, shares of Wells Fargo (WFC) have sat out the market rally the past two days. The reason: Although Wells Fargo has the most interest-rate sensitivity (meaning higher rates are better for net interest income), the bank also needs a steepening yield curve and the curve has been flattening. We are not too worried because this is also a restructuring/expense reduction and capital return story.

(Jim Cramer's Charitable Trust is long AAPL, BA, CRM, DHR, 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.

NOTES

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.