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Nasdaq Sets Intraday Record as Oil Falls a Fifth Day; Investing Club Adds FedEx and BNY

Nasdaq sets intraday record as oil falls a fifth day; Investing Club adds FedEx, BNY and keeps cybersecurity stakes.

AI News Feed · 2026-09-23 02:12

West Texas Intermediate crude slipped to just above $94 a barrel following unverified reports that Iran offered to reopen the Strait of Hormuz within seven days if the United States eases military pressure. The comments came during the club's weekday "Morning Meeting" livestream.

Despite Monday's strong rally, the club's momentum indicator, the S&P Oscillator, remained firmly oversold, prompting it to put some cash to work. The club added to its holdings in FedEx and BNY after recent pullbacks and funded the purchases by trimming Meta, which continued to climb after surging 11% on Monday ahead of CEO Mark Zuckerberg's keynote Wednesday night at Meta Connect.

Falling oil prices and Treasury yields helped TJX Companies extend its rebound. Shares of the off-price retailer had been under pressure since disappointing second-quarter results in its Marmaxx division on Aug. 19, with August's rise in oil prices and interest rates adding to the selling. The club bought the stock several times during the pullback, and portfolio director Jeff Marks said it considered adding again on Tuesday before deciding to deploy money into FedEx and BNY instead. The club's longer-term thesis is unchanged: TJX's value-focused model should keep resonating with consumers, and excess inventory across the retail industry gives the company opportunities to buy merchandise at attractive prices.

CrowdStrike and Palo Alto Networks dipped slightly on Tuesday. Meta's new Muse app offered another reminder of why cybersecurity should grow more important as AI agents proliferate, the club said. Anthropic CEO Dario Amodei's recent essay calling on frontier AI labs to slow model development so safety measures can catch up has also helped fuel enthusiasm for the group. Both stocks have more than doubled this year, and the club said it is cautious about chasing them after such powerful runs. Marks said cybersecurity remains "a cornerstone part of our portfolio," adding that rapid adoption of AI agents reinforces the long-term need for companies to protect their networks, data and systems.

Jim Cramer's Charitable Trust holds BNY, CRWD, FDX, META, PANW and TJX.