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. The S & P 500 retreated Thursday as fresh economic data stoked Wall Street’s concerns about the labor market’s health. Job cuts last month reached their highest level for any October in 22 years, according to outplacement firm Challenger, Gray & Christmas. Jim Cramer said the layoff announcements are, in part, a result of the ongoing government shutdown, which is now the longest in U.S. history. Jim also cited the FAA announcement about reducing flight capacity if a deal isn’t reached by Friday. “These are all signs that this thing is rippling into the real economy,” Jim said. 2. Eli Lilly stock advanced as the Trump administration announced a pricing deal with the drugmaker and its rival Novo Nordisk . The companies agreed to lower prices on obesity drugs in exchange for coverage in Medicare and Medicare programs. The deal widens the total addressable market for Lilly’s Zepbound. Additionally, Eli Lilly shared positive results for a mid-stage trial of its amylin obesity drug, which helped patients lose 20.1% of their body weight on average at 48 weeks. The once-a-week shot, called eloralintide, allows users to preserve more lean muscle mass while still shedding pounds. The drugmaker plans on enrolling patients for a late-stage trial of eloralintide next month. Lilly shares should be up “much, much, much, much more,” Jim said ahead of the Trump administration’s formal announcement. 3. Texas Roadhouse shares shed nearly 2% on Thursday ahead of the company’s quarterly earnings report after market close. “Expect nothing,” said Jim, who also advised members not to buy the Club stock. The dining operator has been plagued by high cattle prices and weakened restaurant spending. Cattle futures are finally catching a break over the past month or so, “but that won’t impact the quarter,” said Jeff Marks, director of portfolio analysis for the Club. “That’s not going to help with guidance either,” Jeff added. The Club downgraded Texas Roadhouse to a 2 rating last month. 4. Stocks covered in Thursday’s rapid fire at the end of the video were: Arm Holdings , e.l.f. Beauty, Lyft, DoorDash , and Fortinet. (Jim Cramer’s Charitable Trust is long TXRH, LLY. 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.
