CNBC Investing Club

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

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

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%.
  • 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

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