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 stock market is slightly higher on Thursday as President Donald Trump unveiled a new trade deal between the United States and the UK, the first agreement since his “reciprocal” tariff announcement on April 2. Treasury Secretary Scott Bessent is set to meet with Chinese officials in Switzerland this weekend, a sign of potential tariff de-escalation. Meanwhile, the 10-year Treasury yield is hovering at 4.3%. Federal Reserve Chair Jerome Powell said on Wednesday that the Fed is not ready to act, but will do so if necessary. 2. Club stock Apple and former portfolio name Alphabet both fell on Wednesday. Apple dipped after Bloomberg reported that SVP of services Eddie Cue said the company was “actively looking” at retooling its Safari browser to focus on AI-powered search engines. Cue also said Safari’s search usage declined for the first time in April as more people turned to AI, sending shares of Alphabet tumbling. Meanwhile, Google said Wednesday that it continues to see overall query search growth, including from Apple devices and platforms. The Club previously expressed concern about chatbot usage growth eating into Alphabet’s territory. “This is why we exited our position in Alphabet a couple of weeks ago,” said Jeff Marks, director of portfolio analysis for the Club. 3. Costco posted another good month of sales for April. The wholesaler’s total net sales went up 4.7%. Comparable sales also rose company wide. The timing of Easter left the company with one less shopping day, which had a slight negative impact. ” I think this shows that Costco remains a destination where people want to shop to get the best deals, especially in this environment,” Marks said, referencing tariff uncertainty. The stock is up over 8% year to date. 4. The Club is keeping an eye out on the drug stock sell-off. The industry is down on the thought that drug pricing is next on Trump’s agenda. Portfolio name Eli Lilly dropped nearly 5% earlier in Wednesday’s session while Bristol-Myers Squibb fell almost 2%. We’re not ready to make any decisions before getting more details. (Jim Cramer’s Charitable Trust is long AAPL, COST, LLY, BMY . 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.
