economy
Why Jim Cramer is urging caution on Starbucks after an analyst upgrade
The Investing Club holds its "Morning Meeting" every weekday at 10:20 a.m. ET.
TL;DR
- The S&P 500 edged up amid Middle East tensions and a US blockade announcement on the Strait of Hormuz.
- The CNBC Investing Club trimmed Broadcom gains, selling some shares on strength.
- Starbucks received an upgrade from Jefferies, but Jim Cramer cautioned against over-optimism regarding its turnaround plan.
- HSBC downgraded Nike stock, citing a lack of short-term catalysts, following a similar downgrade by Piper Sandler.
- Stocks mentioned in the rapid fire segment included Williams-Sonoma, Best Buy, Conagra, and T-Mobile.