Jim Cramer’s CNBC Investment Club hosts a “Morning Meeting” livestream weekdays at 10:20 a.m. ET. A recap of Thursday’s key moments. 1. Stock prices fell on Thursday as oil prices continued to rise. Brent international crude oil briefly hit $119 per barrel after Iran attacked a major LNG facility in Qatar. The Iranian government said it was in retaliation for an Israeli attack on one of its energy centres. For the first time since May of last year, the S&P 500 index fell below its 200-day moving average, a technical level that many long-term investors look for support. Jim Cramer welcomed the rebound in other commodities, including aluminum and steel, as higher raw material prices could fuel inflation. A renewed inflation problem could make it harder for the Federal Reserve to cut interest rates, even if President Donald Trump chooses to replace Jerome Powell as central bank chairman. 2. Eli Lilly and Co. said Thursday that a Phase 3 trial of letaltortide in type 2 diabetes resulted in superior weight loss compared to Munjaro, also in type 2 diabetes, with no plateaus through 40 weeks. Lilly stock didn’t move on the news, perhaps because the once-weekly shot is not expected to be as big of an opportunity as the company’s new GLP-1 pill, which is expected to be approved by the FDA early next month. Health-care stocks, which are typically looked to as a defense during times of turmoil, have struggled. We have leveraged that weakness to build our position at Cardinal Health. 3. Jim reiterated his “no trade” position on AI chip leader Nvidia as the stock fell for the third straight session on Thursday. He believes the stock could rise further if flash memory product supplier SanDisk can “turn positive.” Although SanDisk fell more than 1% on Thursday, it has had an incredible run, gaining more than 1,200% over the past 12 months. Improving SanDisk’s momentum could signal healthier spending on data center construction, which could support a broader AI ecosystem dominated by Nvidia, Jim said. 4. The stocks mentioned in rapid succession Thursday at the end of the video were Five Below, Nucor, Darden Restaurants, Align Technology, and Uber. (Jim Cramer’s charitable trusts are Long LLY, CAH, and NVDA. See here for a complete list of stocks.) As a subscriber to Jim Cramer’s CNBC Investment Club, you will receive trade alerts before Jim makes a trade. After Jim sends a trade alert, he waits 45 minutes before buying or selling stocks in his charitable trust’s portfolio. If Jim talks about a stock on CNBC TV, he will issue a trade alert and then wait 72 hours before executing the trade. The above investment club information is subject to our Terms of Use and Privacy Policy, along with our disclaimer. No fiduciary duties or obligations exist or arise from your receipt of information provided in connection with the Investment Club. No specific results or benefits are guaranteed.
