The Investing Club holds its "Morning Meeting" every weekday at 10:20 a.m. ET.
Every weekday, the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Thursday’s key moments. 1. Stocks were little changed Thursday as Wall Street overlooked mixed labor market data. U.S. layoff announcements in November pushed the year’s total above 1.1 million, the highest level since 2020, according to job placement firm Challenger, Gray & Christmas. Initial jobless claims, however, came in lower than expected for the week ending Nov. 29. Despite the muted session, Jim Cramer says the market’s still overbought. That means we’re not looking to put new money to work right now. Meta Platforms was an outperformer in the portfolio. Shares jumped 4% after Bloomberg reported that the Facebook parent plans to make deep cuts to its metaverse unit. 2. Costco reported U.S. sales for November that were slightly weaker than the month before, sending shares down 3%. Company-wide same-store sales, however, accelerated last month, up 6.9% from October’s 6.6% gain. The stock’s weakness Thursday doesn’t present a buying opportunity just yet, according to Jim, because its multiple is still too high. “There are periods of underperformance in Costco, but if you look at the longer term, it’s one of the greatest performers of all time,” he added. 3. Salesforce stock was up after management posted a huge quarterly earnings beat and raised guidance Wednesday evening. The company missed slightly on revenue. We liked all the paid deals Agentforce, Salesforce’s AI-powered platform, pulled in this quarter. Still, generative AI adoption continues to pose a risk to Salesforce’s seat-based business model. CEO Marc Benioff will be on “Mad Money” on Thursday. 4. Stocks covered in Thursday’s rapid fire at the end of the video were: Snowflake , Five Below , Hormel Foods , PayPal , and Kroger. (Jim Cramer’s Charitable Trust is long META, CRM, COST. See here for a full list of the stocks.) As a subscriber 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 trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
