Jim Cramer recommends buying Costco stock as a port in September's market storm

CNBC's Jim Cramer on Friday recommended that investors seek refuge in Costco shares as September lives up to its reputation as a rough month. "There are some ports in this storm and one of them is Costco," Cramer said on " Squawk on the Street, " calling the retailer a stock to own, especially in the recent market drop. In midday Friday trading, the S & P 500 was falling more than 1.5% in what's shaping up to be the index's worst week in a year.

Performance was solid across staples and discretionary categories. Food and sundries increased mid-single digits, fresh foods increased high-single digits, and non-foods increased low-double digits. Costco "rolls back prices endlessly," Cramer highlighted, saying that's the reason the stock is a holding in his Charitable Trust, the portfolio used by the Club.

Italia Ultime Notizie, Italia Notizie

Similar News:Puoi anche leggere notizie simili a questa che abbiamo raccolto da altre fonti di notizie.

Jim Cramer's top 10 things to watch in the stock market FridayThe highly anticipated August jobs report came up short of expectations.
Fonte: CNBC - 🏆 12. / 72 Leggi di più »

Jim Cramer's top 10 things to watch in the stock market ThursdayWall Street looks to rebound after a losing session Wednesday driven by a pullback in Nvidia.
Fonte: CNBC - 🏆 12. / 72 Leggi di più »

Jim Cramer's top 10 things to watch in the stock market TuesdayStill zero-sum? Can tech go up with rates coming down? Isn't the weighting of tech too high if rates are going lower?
Fonte: CNBC - 🏆 12. / 72 Leggi di più »