CNBC Investment Club with Jim Cramer broadcasts “Morning Meetings” live every weekday at 10:20 a.m. ET. Here's a look at Monday's key moments: The Dow Jones Industrial Average and S&P 500 hit record highs on Monday as investors awaited quarterly earnings and considered the impact of the assassination attempt on former President Donald Trump. Morgan Stanley reported earnings on Tuesday, and fellow portfolio stock Abbott Laboratories reported earnings on Thursday. Monday's rally pushed the market further into overbought territory, and investors sold some TJX Companies shares on Friday afternoon to lock in profits and raise additional funds. Wells Fargo shares rose 2.5% on Monday, recovering from a big drop after last week's earnings announcement. On Friday, shares fell 6% after net interest income (NII), a key measure of the profitability of the company's lending activities, fell short of analysts' expectations. Jim Cramer said Wells is a portfolio stock that will rise if the Federal Reserve cuts interest rates and banks' interest-based income recovers. This, along with management's focus on fee-based businesses such as investment banking, make Wells continue to be attractive. In his Sunday column, Jim said Best Buy and Costco Wholesale are buys. The electronics retailer's sales will soar as customers upgrade their computers to newer models that integrate artificial intelligence. Costco shares also fell 5% last week, but this has nothing to do with the company's fundamentals. In fact, the big-box retailer announced a long-awaited membership fee increase last week, which will take effect on September 1 in the U.S. and Canada and should be a catalyst for the stock to rise. (Jim Cramer's Charitable Trust is long WFC, MS, ABT, TJX, BBY, and COST. See the full list of stocks here.) Subscribers to Jim Cramer's CNBC Investment Club get trade alerts before Jim makes a trade. Jim will wait 45 minutes after sending a trade alert before buying or selling shares in the charitable trust's portfolio. If Jim talks about a stock on CNBC television, Jim will wait 72 hours after issuing the trade alert before executing the trade. The above Investment Club information is subject to our Terms of Use and Privacy Policy and Disclaimer. Receipt of any information provided in connection with the Investment Club does not and will not create any fiduciary duty or obligation. No specific results or benefits are guaranteed.