The CNBC Investing Club’s Morning Meeting livestream with Jim Cramer provided a recap of key moments on Friday. The market saw a rebound after a “really bad day” on Thursday, with Wall Street bouncing higher. Bond yields rose on “good economic data being viewed as bad news,” causing a late-day decline. Despite this, Nvidia saw a 9% post-earnings increase, and Goldman Sachs adjusted its forecast for the first Federal Reserve interest rate cut to September from July.
Eli Lilly announced a $5.3 billion investment to boost manufacturing at an Indiana plant. This investment will expand production of weight loss drug Zepbound, diabetes treatment Mounjaro, and other medicines. The total investment at the site is now $9 billion, showing Lilly’s commitment to meeting the demand for their products. This includes their GLP-1s with tirzepatide as the active ingredient, competing against Novo Nordisk’s Wegovy and Ozempic.
Next week, four Club names are set to report earnings: Salesforce, Best Buy, Foot Locker, and Costco. Salesforce will report after the closing bell on Wednesday, with Best Buy following before the opening bell on Thursday. Foot Locker’s report is also on Thursday morning, while Costco’s report comes after the bell on Thursday. Cramer mentioned potential stock splits for Costco, similar to Nvidia’s recent split, and discussed the performance of each company leading into their earnings reports.
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The Morning Meeting recap provided insights into market trends, company investments, upcoming earnings reports, and the benefits of the CNBC Investing Club. By analyzing and understanding these key moments, investors can make informed decisions and navigate the ever-changing landscape of the stock market. It is crucial to stay informed, critically analyze information, and consider the potential risks and rewards of each investment opportunity.
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