Jim Cramer, host of the CNBC Investing Club, commented on current market conditions and identified several industrial stocks of interest during his “Morning Meeting” livestream on Thursday, July 2. The discussion occurred as the Dow Jones Industrial Average reached a new all-time intraday high following the release of a weaker-than-expected non-farm payrolls report for June.
The June jobs report indicated a slowdown in U.S. job creation. In response to the data, Cramer stated that it could influence future decisions by the Federal Reserve. “Take the rate hike off the table,” Cramer said during the broadcast, suggesting the data lessens the likelihood of an interest rate increase.
During the program, Cramer addressed specific companies, including the recently spun-off Honeywell Aerospace. Shares of the company rose more than 4% on Thursday after the research firm BMO initiated coverage with a “buy” rating and a $276 price target. Cramer noted he was “willing to buy” more shares of the aviation technology company at its trading level of approximately $233 per share.
“Honeywell Aerospace is an inexpensive way to play travel, and we know that travel is on fire,” Cramer said, referencing recent price target increases for major airlines as an indicator of demand. According to CNBC, the Investing Club received 220 shares of Honeywell Aerospace after its separation from Honeywell was completed on Monday.
Cramer also highlighted Linde, an industrial gases company whose stock was up over 2% during trading on Thursday. “This is what you want to own,” he told viewers. He described the company as a “secular grower” that benefits from long-term trends such as artificial intelligence infrastructure and green energy, rather than short-term economic cycles.
Other stocks mentioned during the livestream included Chevron and Palantir. A disclosure provided by CNBC stated that Cramer’s Charitable Trust holds long positions in Honeywell Aerospace, Honeywell, Home Depot, and Linde.
