Join CNBC Investing Club with Jim Cramer as we recap the key moments from Monday's market action, including the S&P 500 and Nasdaq's positive start, Home Depot's impressive share performance, and Nvidia's continued surge in the AI chip sector.
Wall Street kicked off the week on a positive note Monday, with the S&P 500 and Nasdaq rising. This followed two consecutive Mondays marked by sell-offs, fueled by concerns about DeepSeek AI on January 27th and potential tariffs on Canadian and Mexican imports on February 3rd, which President Trump ultimately paused.
CNBC Investing Club Director of Portfolio Analysis Jeff Marks described Monday's market activity as a 'rotational day,' with the financial and healthcare sectors pulling back after a strong start to the year. Wells Fargo and Bristol Myers Squibb, both Club portfolio holdings, were among the worst-performing stocks.However, Home Depot shares surged over 1% after JPMorgan analysts added the retailer to their 'best investment ideas' list. The firm predicts Home Depot's U.S. same-store sales increased 1% in the three months ending January, significantly outperforming Wall Street's consensus of a 2.4% decline. This marks Home Depot's first positive same-store sales performance since the third quarter of 2022. Jeff noted, 'We've been waiting for this inflection,' and added to their Home Depot position last week, partly due to the expectation that the company will benefit from wildfire rebuild efforts in Los Angeles. Home Depot is scheduled to release its fourth-quarter earnings before the opening bell on February 25th.Nvidia, another Club portfolio holding, soared over 3%, boosted by Evercore ISI's inclusion of the AI chipmaker on its 'tactical outperform' list. This follows a four-day winning streak fueled by Nvidia's key customers, including Google, Amazon, Microsoft, and Meta Platforms, announcing plans for significant investments in AI-related capital expenditures this year. This eased concerns sparked by DeepSeek. Jeff called it 'just a very encouraging sign' for Nvidia and other chip stocks tied to the AI sector, noting that fellow Club AI chipmaker Broadcom also had a strong day. The CNBC Investing Club also holds positions in Microsoft, Meta, Alphabet, and Amazon
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