The CNBC Investing Club with Jim Cramer held its “Morning Meeting” livestream, where they discussed the market rebound after a “really bad day” on Wall Street. The previous session saw a decline in late-day trading as bond yields rose due to good economic data being perceived as bad news. Despite a 9% post-earnings increase in Nvidia shares, the market experienced a sell-off. Goldman Sachs adjusted its forecast for the first Federal Reserve interest rate cut to September, emphasizing the need to keep rates higher for longer to avoid inflation becoming a major problem in America.

Eli Lilly announced a $5.3 billion investment in expanding manufacturing at an Indiana plant to increase production of weight loss drug Zepbound, diabetes treatment Mounjaro, and other medicines. This investment brings Lilly’s total commitment to the site to $9 billion, highlighting the company’s dedication to meeting demand for products like GLP-1s with the active ingredient tirzepatide. The move positions Lilly for growth and market competitiveness against rivals like Novo Nordisk.

Several Club names are set to report earnings in the coming week, including Salesforce, Best Buy, Foot Locker, and Costco. Salesforce is scheduled for Wednesday after the closing bell, with Cramer considering a purchase opportunity following a dip in the stock price. Best Buy’s earnings report is due on Thursday before the opening bell, and the company’s performance may be impacted by the delayed introduction of artificial intelligence PCs. Foot Locker’s report is also on Thursday morning, where investors will be watching for signs of CEO Mary Dillon’s turnaround efforts amid challenges in the market. Costco’s earnings are scheduled for Thursday after the bell, with speculation about a potential stock split following Nvidia’s recent decision to split its stock.

Subscribers to the CNBC Investing Club with Jim Cramer receive trade alerts before Jim makes any trades in his charitable trust’s portfolio. Jim follows a waiting period of 45 minutes after sending a trade alert before executing a trade, and if he discusses a stock on CNBC TV, he waits 72 hours before making any moves. It is important to note that the information provided by the Investing Club is subject to terms and conditions, privacy policy, and disclaimer, and does not create any fiduciary obligation or guarantee specific outcomes or profits.

The CNBC Investing Club Morning Meeting Recap highlighted key market trends, investment news, and upcoming earnings reports for Club members. The analysis provided valuable insights for investors looking to make informed decisions in the current market environment.

Earnings

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