Jim Cramer’s CNBC Investment Club hosts a “Morning Meeting” livestream every weekday at 10:20 a.m. ET. A recap of Thursday’s key moments. Jim Cramer said in a morning meeting that U.S. oil prices soared on Thursday as traders questioned “the validity of the ceasefire agreement” between the U.S. and Iran and “what that really means” for oil shipments through the Strait of Hormuz. West Texas Intermediate crude oil futures soared 8% to more than $100 a barrel. The move follows a 16% drop on Wednesday after the ceasefire was announced. With the S&P 500 index flat on Thursday, Jim added, “I’m very surprised the market has held up despite the recovery in oil.” (The index turned green later in the session.) He pointed to a number of stocks supporting the market, including club names GE Vernova, Amazon, and Corning. 2. Meta Platform’s stock price was also one of the best performers of the day, rising more than 2.5%. Shares rose 6.5% on the day after the company announced its new AI model, Muse Spark. Meta also made news on Thursday when CoreWeave announced an expanded AI infrastructure deal worth $21 billion with companies Facebook and Instagram. Jim asked Jeff Marks during the meeting, “Is meth back?” Jeff, the club’s director of portfolio analysis, said the stock remains cheap despite a string of strong days. Jim and Jeff have downplayed concerns after Mehta recently lost two social media addiction lawsuits. 3. Credit card giant Capital One was upgraded to an overweight rating equivalent to buy at JPMorgan, with a price target of $213 per share. This PT implies an 8% upside from current levels. The club’s share price has been tough, falling more than 20% since the start of the year. JPMorgan analysts see limited downside risks at current levels unless new tailwind risks emerge. They also mentioned the benefits of Discover’s continuous integration. Jim acknowledged that Capital One is part of a “crowded group” of consumer finance companies that includes buy-now-pay-later newcomers like Affirm and older players like American Express. 4. The stocks featured at the end of Thursday’s video were Constellation Brands, Texas Instruments, McCormick, and Unilever. (Jim Cramer’s Charitable Trust is a COF long META. 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.
