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. The market is closed on Friday for Good Friday, so stock prices are volatile on Thursday, the last trading day of the week. Stocks fell sharply after President Donald Trump’s hawkish speech on the Iran war stoked fears of an escalation and sent oil prices soaring. But after the morning meeting, Iranian state media reported that Iran was cooperating with Oman on a protocol regarding ships passing through the Strait of Hormuz, which eased some of the pressure on oil prices and helped stocks rebound significantly from their lows. On this day, the S&P 500 briefly rose. Jim Cramer said he remains open-minded in this frustrating and confusing market. “When the stock price drops significantly, my instinct is to buy the stock because I like what we have,” he said. “(We’re looking at stocks we like for the long term and will nibble on them as they come in). But for now, the market needs to become even more oversold to make opportunistic trades,” said Jeff Marks, director of portfolio analysis. Stocks that are rebounding from the decline include Corning, Linde, and Costco. 2. Amazon is in talks to buy satellite company Globalstar, the Financial Times reported. Amazon’s nascent space internet service Leo, which has launched about 200 satellites into low-Earth orbit since last April, competes with SpaceX’s Starlink, which has more than 10,000 satellites in orbit and more than 10 million users, but in 2024 iPhone maker Apple acquired a 20% stake in Globalstar to fund expansion of its iPhone satellite service. Leo said he was told by Amazon CEO Andy Jassy that “having a satellite network is extremely important,” and believes this potential expansion would be incrementally positive for Amazon’s flywheel by boosting rural internet access, which would make Prime membership even more attractive. Marks added that the controversial decision “didn’t pay off” as competitors moved forward with AI-related spending, and that Microsoft is now rushing to expand online production capacity to ease computing supply shortages.He said he was confident the company could maintain its Hold Equivalent 2 and Stock 4 targets, even though Microsoft is down 23% year-to-date. The stocks featured at the end of Thursday’s video were Brinker, Texas Roadhouse, and Constellation Brands. (The Jim Cramer Charitable Trust is long GLW, CAH, COST, LIN, AMZN, MSFT. 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. If Jim talks about a stock on CNBC TV, he will execute the trade 45 minutes after he sends the trade alert. The above investment club information is subject to our disclaimer. Any fiduciary duties or obligations arise or arise from your receipt of information provided in connection with the Investment Club, and no specific results or benefits are guaranteed.
