The stock market dipped on Monday as investors awaited new trade developments and booked profits following the S&P 500’s record close on Thursday. President Donald Trump announced that Japan and South Korea would face 25% tariffs starting August 1, which led to a decline in stocks.
Jim Cramer warned that profit-taking doesn’t last long, citing the S&P Short Range Oscillator’s overbought territory. He advises against buying until the indicator corrects itself.
CrowdStrike was downgraded to “hold-equivalent neutral” by Piper Sandler, as analysts don’t see a near-term catalyst to boost estimates. Jim has previously recommended the stock, but acknowledges its high valuation.
Citigroup raised Nvidia’s price target from $180 to $190, citing an expansion of their artificial intelligence total addressable market (TAM) forecasts. Jim is monitoring Nvidia’s potential ability to sell AI chips to Chinese customers following changes in Washington’s posture on chip design firms.
In the CNBC Investing Club with Jim Cramer, stocks covered included Applied Materials, Netflix, T-Mobile, IBM, and CoreWeave. As a subscriber, you’ll receive trade alerts before Jim makes trades, but note that no specific outcome or profit is guaranteed.
Source: https://www.cnbc.com/2025/07/07/why-jim-cramer-says-nvidia-may-score-a-win-in-china-plus-crowdstrike-gets-downgraded.html