Why our cybersecurity stocks are soaring, plus Big Tech tries to rebound
Every weekday, the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. ET. Here's a recap of Monday's key moments. 1. The S & P 500 rose Monday as stocks rebounded from last week's...
$4,200-$4,600 — Gold (GC) Where to settle in June?
Here is a story making headlines in the economy: Every weekday, the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a. Here's a recap of Monday's key moments. The S & P 500 rose Monday as stocks rebounded from last week's pullback.
West Texas Intermediate crude advanced to about $70 per barrel after Iran and the United States traded strikes over the weekend. The two nations agreed on Sunday to pause hostilities and allow commercial vessels to cross freely through the Strait of Hormuz. President Donald Trump said on Truth Social this morning that a meeting with Iran is planned for tomorrow in Doha, Qatar.
Economic Details
"That is keeping oil in check," said Jeff Marks, director of portfolio analysis for the Club. Jeff added that if oil can stay below $70 per barrel, it will help keep bond yields stable as well. Aside from that, Honeywell completed its split with Honeywell Aerospace today, resulting in the Club receiving 220 shares of the new company.
The portfolio's hyperscalers — Amazon , Microsoft, Meta, and Alphabet — are seeing some strength today after sharp declines last week. The declines were the result of the memory and storage squeeze, which is driving up prices for hyperscalers and AI-related capital expenditure. In this week's Sunday Column , Jim Cramer said megacaps are victims of shifting market dynamics and discussed how they can regain the market's good graces.
Shares of Palo Alto Networks rose around 7. 5%, hitting a new intraday high. CrowdStrike also jumped over 6%.
Analyst Views
Jeff said the positive gains in the Club's cybersecurity names could be related to a Friday Wall Street Journal report that Chinese AI systems have matched Anthropic's Mythos in finding cybersecurity vulnerabilities. If the Chinese models can find vulnerabilities, they can also exploit them, Jeff said. "You're going to want some cybersecurity defense if you're an enterprise because these new updated models will make attacks even more sophisticated.
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Financial markets are tracking the development closely as investors assess the likely impact.
