Eli Lilly’s new shot shows solid weight loss in study — plus, a way for Nvidia to perk up
Every weekday, CNBC Investment Club with Jim Cramer hosts a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Thursday’s highlights. 1. Stocks fell on Thursday as oil prices continued their rise. Brent international crude briefly touched $119 per barrel after Iran attacked a key LNG facility in Qatar. Tehran said it was in retaliation for an Israeli attack on one of its energy hubs. For the first time since last May, the S&P 500 fell below its 200-day moving average, the technical level where many long-term investors are looking for support. Jim Cramer welcomed the decline in other commodities, including aluminum and steel, because rising raw material prices could increase inflation. If inflation problems flare up again, that could make it harder for the Fed to cut interest rates even if President Donald Trump chooses to replace Jerome Powell as central bank governor. 2. Eli Lilly said Thursday that its Phase 3 study of retatrutide in type 2 diabetes resulted in superior weight loss compared to Mounjaro, also for type 2 diabetes, and showed no stalling for 40 weeks. Lilly shares weren’t moving on the news, likely because this once-a-week injection wasn’t expected to be as big a deal as the company’s new GLP-1 pill, which is expected to be approved by the FDA early next month. Health care stocks, normally sought for defensive purposes in times of turmoil, have struggled. We use this weakness to improve our Cardinal Health position. 3. As shares fell for a third straight session on Thursday, Jim reiterated his “own, no trade” stance on AI chip leader Nvidia. He believes the stock could move higher if flash memory products supplier Sandisk “turns positive.” Sandisk, which fell more than 1% on Thursday, has been on a meteoric rise, gaining more than 1,200% in the last 12 months. If Sandisk’s momentum picks up, it would signal healthier spending on data center deployments, which Jim says could support the broader AI ecosystem dominated by Nvidia. 4. At the end of the video, the stocks covered in Thursday’s rapid fire were: Five Below, Nucor, Darden Restaurants, Align Technology and Uber. (Jim Cramer’s Charitable Trust is named LLY, CAH, NVDA. See here for a complete list of stocks.) When you subscribe to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trading alert before buying or selling a stock in his charitable foundation’s portfolio. If Jim talked about a stock on CNBC TV, he would wait 72 hours after issuing the trading alert before executing the trade. THE ABOVE INVESTMENT CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY, TOGETHER WITH THE DISCLAIMERS. NO CIVIL OBLIGATIONS OR DUTIES EXIST OR SHALL BE RESULTING FROM YOUR RECEIVING ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTMENT CLUB. NO SPECIFIC RESULT OR PROFIT CAN BE GUARANTEED.
