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 modestly lower Thursday, extending the S & P 500 ‘s losing streak to five straight sessions since last week’s record high. The acute market rotation over the past two days out of stocks with premium valuations appears to be easing. “It usually takes about three days for these rotations to play out. But it looks like it might be a day and a half,” said Jeff Marks, director of portfolio analysis for the Club. Looking ahead, investors are awaiting Federal Reserve Chairman Jerome Powell’s Jackson Hole speech on Friday. “That’s likely going to move markets,” Jeff said. During a CNBC interview that aired Thursday, Kansas City Fed President Jeffrey Schmid expressed hesitancy about a widely expected September interest rate cut. 2. Meta Platforms hit pause on its artificial intelligence hiring spree, according to The Wall Street Journal, after onboarding more than 50 AI researchers and engineers. The report was confirmed by a Meta spokesperson who characterized the freeze as “basic organizational planning.” The latest action should not be viewed as a slowdown in AI investments, Jeff said, noting the millions of dollars that Meta has spent on massive compensation packages to new hires. “Maybe this is actually a good thing that they are kind of holding off on hiring. They’re letting their team work and put their plan in place,” said Jeff. 3. Walmart posted a quarterly revenue beat but missed on earnings per share. “You don’t really see that too often from Walmart,” Jeff said, though he added that it appears to be a result of one-time expenses unrelated to core operations. Walmart stock sank more than 4.5% on the news, taking our retail names — Amazon , Costco , and TJX — with it. Walmart’s same-store sales in the U.S. did go up 4.6% versus the 4.1% expected. Similarly, TJ Maxx and Marshalls parent TJX reported a 4% rise in comps on Wednesday. 4 . Boeing is in talks to sell as many as 500 planes to China, according to Bloomberg. It’s good news for the aerospace industry and a positive sign that trade talks between Beijing and the U.S. are going well. “This type of deal could get taken away in an instant if there is some type of escalation in tariff threats between the two [countries],” Jeff said. The Club added Boeing to our Bullpen back in April on the idea that planes could be used as bargaining chips by countries looking to reduce trade deficits. (Jim Cramer’s Charitable Trust is long META, TJX. 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.
