Well, well, well, quarter earnings season is upon us, folks! And it looks like the big banks are starting things off with a bang! Their solid earnings reports have sent financial stocks soaring and made all the investors out there question whether the Fed will keep raising interest rates. My guess is as good as yours, but what I do know is that oil prices are also up. The price of West Texas Intermediate crude is sitting pretty at around $82 a barrel. So, maybe it’s time to invest in a barrel or two, huh?
Oh, happy day! Wells Fargo Club is killin’ it, folks! They just delivered an earnings report that absolutely crushed it. Their first-quarter revenue and earnings are just off the charts! And get this, they even reiterated their full-year guidance for net interest income and expenses. The stock initially rose more than 2% Friday morning before giving up most of those gains. But don’t be fooled, my friends! Just because the stock went down doesn’t mean it’s a bad investment. Jim Cramer warned us of this. So, if you ask me, this is the perfect opportunity to buy.
And if that’s not enough to get you excited, hold on to your makeup brushes, because the news about Estee Lauder is gonna make your skin glow! So, Estee Lauder is a French luxury goods maker that does about a third of its sales in China. And recently, China has enacted a new policy lifting their zero-Covid regulations. And wouldn’t you know it, their cosmetics imports grew in March for the first time in over a year! According to Wells Fargo, with data tracking in China improving and after the positive results from LVMH, we can expect a turnaround to be underway. So, basically, start buying stocks in Estee Lauder and get your glow on, ladies and gents!
Alright, alright, calm down. Before you go running off to buy stocks, just know that as a subscriber to the CNBC Investing Club, you will receive a trade alert before Jim Cramer makes a trade. And Jim likes to wait 45 minutes after he sends a trade alert before making any moves. If he’s mentioned a stock on TV, though, he waits a full 72 hours before actually making that trade. And, of course, let’s not forget the fine print. The above investing club information is always subject to their terms and conditions and privacy policy, along with their disclaimer, because they don’t want any of us to get too big for our britches. Remember, no specific outcome or profit is ever guaranteed. Darn it.
Serious News: cnbc
