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 on Thursday added to the prior session’s all-time highs. Investors were betting that the hotter-than-expected monthly increase in the August consumer price index would not deter the Federal Reserve from cutting interest rates by 25 basis points next week. The year-over-year CPI increase was in line with estimates. Jim Cramer said the consumer inflation data does make Thursday “very confusing,” especially amid fluctuating bond yields. “But we have to keep in mind that this 10-year [Treasury yield] that we were so worried about at one point was under 4%,” he stressed. “We have to start realizing rates have come down even though there’s a little bit of inflation.” 2. Home Depot continues to win on Fed rate expectations, with the market favoring a total of three cuts by year-end and a fourth starting to enter the conversation for January. The Club stock resumed its recent upswing with a 2% gain Thursday. “This is my favorite chart in the entire book. It’s a reverse head and shoulders. I do believe this stock is going to go to $500,” Jim said. A “reverse head and shoulders” pattern on the chart in technical analysis is a bullish sign. Jim also believes that, unlike last year, Fed rate cuts will trickle down this time around to mortgage rates, which would boost housing. 3. Morgan Stanley named Club stock Amazon a top pick. The reason why? Groceries . According to the analysts, Amazon’s acceleration into the $600 billion grocery market will unlock “durably faster growth.” “There are a lot of levers with Amazon. But a lot of people are hung up on Amazon Web Services not being as good as OpenAI when it comes to data center work,” Jim said. Amazon’s stock fell a little more than 3% Wednesday following Oracle’s reported $300 billion deal with OpenAI. But Jim’s advice is firm: “Dont give up on Amazon.” 4. Stocks covered in Thursday’s rapid fire at the end of the video were: FedEx , UPS , Thermo Fisher , Kroger, Centene , and Klarna . (Jim Cramer’s Charitable Trust is long AMZN, HD . 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.
