economy
Jim Cramer says investors will soon 'gravitate' back to this megacap stock
The Investing Club holds its "Morning Meeting" every weekday at 10:20 a.m. ET.
TL;DR
- Stock market surged Friday due to Iran's announcement of the Strait of Hormuz opening and a ceasefire agreement.
- Oil prices plummeted, with West Texas Intermediate falling 14%, benefiting travel, leisure, transportation, and industrial stocks.
- Signs of easing inflation are expected to allow for further interest rate cuts by the Federal Reserve.
- Boeing shares rose, with investors focusing on orders and backlog size ahead of its earnings report.
- Apple was named a 'high-quality' stock by Bank of America, with progress in on-device AI and strong China sales.
- Stocks discussed in rapid fire included Netflix, Clorox, Prologis, United Health, and Affirm.