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. Markets are mixed Thursday as investors try to digest Nvidia’s latest earnings as well other tech and retail reports. This comes following the S & P 500’s advance to another record high Wednesday ahead of the leading AI chipmaker’s print. “We have a market that is so resilient because… if you came in [earlier today] Nvidia was down, people worried about a lot of the retailers. We had cybersecurity down. We didn’t have the bonds going our way,” Jim said. “All I can tell you is this [ market] is hard to kill.” In the latest economic data, the second quarter GDP was revised up to 3.3% from the initial reading of 3%. The revision also was larger than 3.1% consensus estimate, according to Dow Jones. Looking ahead, the July personal consumption expenditures (PCE) index, which is the Fed’s preferred inflation measure, is slated for release Friday morning. 2. As expected, Nvidia’s earnings report sent ripple effects through several Club names linked to the AI trade including GE Vernova , Eaton and Broadcom . All three portfolio members are seeing positive gains off the chipmaker’s report, though Nvidia’s stock itself is slightly under pressure because the quarter was strong but not perfect. We don’t want to be “greedy,” Jim said, referencing Broadcom, which is up roughly 94% to date. The Club recently trimmed shares of the semiconductor name, realizing a 238% gain. Broadcom reports next Thursday, Sept. 4. Meanwhile, GE Vernova rose about 3% so far in the session, and Eaton saw a modest 1% move. “This is definitely a sign. I’d argue if there was a serious concern around Nvidia and deceleration, you’d probably see weakness across the board here,” said Jeff Marks, director of portfolio analysis for the Club. 3. CrowdStrike shares rose more than 2% Thursday, in a reversal from the stock’s initial decline Wednesday night in extended trading in response to earnings. Jim called the move an “overreaction.” The company had a pretty clean quarter with a beat across all key metrics. But the stock took an initial hit due to a perceived underwhelming revenue guide. In comparison to other quarters, the stock went into earnings with some weakness, Marks pointed out. Despite the earnings dip, the Club upgraded the stock to a buy equivalent rating Wednesday, so our optimism is being shared by the market Thursday. 4. Stocks covered in Thursday’s rapid fire at the end of the video were: Snowflake , Dollar General , Best Buy , Dick’s Sporting Goods , and Chipotle Mexican Group . (Jim Cramer’s Charitable Trust is long AVGO, CRWD, ETN, GEV, NVDA. 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.
Rallies in these 3 stocks show that concerns about slowing Nvidia growth are misplaced
