Jim Cramer Says Tuesday Rally Was Driven By Nvidia, Eli Lilly And Other 'Stocks Reacting Positively To Good Earnings Per Share News'
Portfolio Pulse from Benzinga Neuro
U.S. stocks rose on Tuesday, driven by positive earnings per share news, according to Jim Cramer. Despite a warmer-than-expected February CPI, stocks like Nvidia, Eli Lilly, and Costco saw gains, while Oracle's strong quarter, attributed to AI, boosted its shares by 11%. JPMorgan CEO Jamie Dimon expressed optimism for the U.S. economy, suggesting the Fed hold off on interest rate cuts until after June. Cramer highlighted the risk of stocks moving in unison and saw a buying opportunity in Broadcom due to its low multiple status.
March 13, 2024 | 8:25 am
News sentiment analysis
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POSITIVE IMPACT
Broadcom identified by Cramer as a potential buying opportunity due to its attractive low multiple status, despite not being tied to the group's performance.
Broadcom's mention as a buying opportunity by Cramer, despite not being part of the group's positive performance, indicates a potential undervaluation and a positive short-term outlook.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Costco saw its stock price increase on Tuesday, following a trend of recovery driven by positive earnings.
Costco's stock price increase is directly linked to positive earnings, indicating a bullish short-term impact.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Eli Lilly experienced gains on Tuesday, bouncing back from recent losses, attributed to positive earnings.
Eli Lilly's gains are a result of positive earnings news, suggesting a favorable short-term outlook for the stock.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Nvidia saw gains on Tuesday after positive earnings news, recovering from previous losses.
Nvidia's recovery and gains are directly attributed to positive earnings, indicating a strong short-term bullish sentiment.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Oracle's shares surged by approximately 11% due to its strong quarter, largely attributed to its AI strength.
Oracle's significant share price increase is attributed to its strong earnings, particularly in AI, suggesting a very positive short-term outlook.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 95