The CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream every weekday at 10:20 a.m. ET. Thursday’s session saw U.S. stocks trading mixed as traders analyzed May’s producer price index data, which indicated that inflation pressures may be easing. The S & P 500 edged lower, but remained near record highs. Weekly jobless claims also came in higher than expected, suggesting some loosening in the labor market. This economic data followed the Federal Reserve’s decision to keep rates unchanged on Wednesday, with Fed chief Jerome Powell noting progress on the inflation front. The Club highlighted nine stocks in the portfolio that would benefit from potential rate cuts.
One standout stock on Thursday was Broadcom, which saw its shares surge 13% after reporting artificial intelligence-driven earnings that surpassed expectations. The semiconductor company’s management raised its full-year guidance and announced a 10-for-1 stock split. The Club’s director of portfolio analysis, Jeff Marks, described Broadcom as the second-best way to play AI in the chips space, behind Nvidia. Meanwhile, Blue Cross Blue Shield of Michigan is reportedly dropping coverage of weight loss drugs for Club holdings Eli Lilly and Novo Nordisk on certain commercial insurance plans in 2025. This news does not change the investment thesis for Lilly, as drugs like Zepbound remain in short supply with high demand.
Eli Lilly’s stock was up 1% on Thursday, heading towards another record close and marking its sixth consecutive day of gains. It is worth noting that Jim Cramer’s Charitable Trust holds positions in Nvidia, Broadcom, and Eli Lilly. Subscribers to the CNBC Investing Club with Jim Cramer receive trade alerts before Jim makes a trade. Jim typically waits 45 minutes after issuing a trade alert before buying or selling a stock in his charitable trust’s portfolio. If he has discussed a stock on CNBC TV, he waits 72 hours before executing the trade. It is important to adhere to the Club’s Terms and Conditions, Privacy Policy, and Disclaimer, as no fiduciary obligation or duty exists by receiving information through the Club. Specific outcomes or profits are not guaranteed.
In summary, Thursday’s Morning Meeting livestream by the CNBC Investing Club with Jim Cramer featured discussions on the mixed U.S. stock market, economic data releases, and specific stock movements. The session highlighted potential beneficiaries of rate cuts and discussed the performance of Broadcom following its strong earnings report. The decision by Blue Cross Blue Shield of Michigan to drop coverage of weight loss drugs for certain commercial insurance plans does not alter the investment thesis for Eli Lilly. Subscribers to the Club receive trade alerts prior to Jim Cramer making any trades, with specific guidelines for execution. It is important to review the Club’s Terms and Conditions and Privacy Policy, as well as understand that no guaranteed outcomes or profits are promised.
