CNBC’s Investing Club with Jim Cramer hosts a live “Morning Session” every weekday at 10:20 a.m. ET. Here’s a recap of Monday’s key moments. Stocks Mixed PANW Gross Higher Decline 1. Stocks Mixed Major U.S. stock benchmarks were mixed on Monday as the tech-heavy Nasdaq Composite climbed 0.4% while the Dow Jones Industrial Average fell 110 points, or 0.3%. The S&P 500 traded at a nine-month high as shares of Club holding Apple ( AAPL ) soared to an all-time high ahead of the expected unveiling of its mixed reality headset. The moves came as investors spent Friday’s rally, which saw all three indexes finish roughly 2% higher for the week. Jim Cramer said Monday that investors should be patient with the market here. “After a big run, all of a sudden people start hugging the market. I don’t like that,” Jim said. “I like to go the other way, because there’s not much point in getting on after the run.” 2. Oil higher Oil prices rose on Monday after Saudi Arabia announced plans to voluntarily cut production by another 1 million barrels a day starting in July. Global benchmark Brent crude and West Texas Intermediate, the U.S. crude benchmark, both rose about 1% to around $77 a barrel and $72.60 a barrel on Monday morning. However, Saudi Arabia’s decision to cut production does not change our firm outlook for the club’s oil stocks. “I don’t think there’s a reason to just say, ‘Oh, now’s a chance to buy’…I just don’t like it,” Jim said. 3. PANW Downgrade On Monday, we downgraded Palo Alto Networks (PANW) to 2, meaning we would have to see the stock decline before adding to our position. There’s no point in chasing the stock after its Monday rally on news that the cybersecurity firm will be added to the S&P 500 index effective June 20. Palo Alto shares hit a fresh intraday all-time high on Monday, climbing more than 5% to trade around $228 apiece. The stock is up more than 61% year-to-date. We’ve been saying for months that PANW will jump once it’s officially added to the stock index, and we’ve built our position ahead of that catalyst. At this point, we think a move to a 2-ranked sideline is prudent. (Jim Cramer’s Charitable Trust is long AAPL, PXD, PANW. Here’s a full list of stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you’ll receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling shares in his charitable trust’s portfolio. If Jim was talking about stocks on CNBC TV, he waits 72 hours after the trade alert is issued before he executes the trade. THE ABOVE INVESTMENT CLUB INFORMATION IS SUBJECT TO OUR TERMS AND PRIVACY POLICY ALONG WITH OUR DISCLAIMER. NO FIDUCIARY OBLIGATION SHALL EXIST OR CREATE BY YOUR ACCEPTANCE OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTMENT CLUB. NO PARTICULAR RESULT OR PROFIT IS GUARANTEED.