CNBC Investment Club with Jim Cramer broadcasts “Morning Meetings” live every weekday at 10:20 a.m. ET. Here’s a recap of Thursday’s key moments. The S&P 500 hit a new record on Thursday as club holding Nvidia buoyed the market. The chipmaker’s shares also hit an all-time high, rising more than 2.5%. “A lot of the gains today are from the AI trade,” said Jeff Marks, director of portfolio analysis at CNBC Investment Club. Treasury yields rose Thursday despite soft economic data in the form of higher-than-expected weekly jobless claims and a weaker-than-expected Philadelphia Fed manufacturing index. Not all AI-related stocks soared on Thursday. Broadcom shares fell 2%. The club’s chipmaker has surged more than 18% since reporting earnings last week amid a losing streak. We booked profits earlier this week, concerned that Broadcom was losing steam after its big rally. Meanwhile, AI darling NVIDIA on Tuesday surpassed fellow portfolio stock Microsoft to become the world’s most valuable publicly traded company. Honeywell closed an agreement to acquire CAES Systems for about $2 billion in an all-cash deal. The acquisition will boost Honeywell’s defense technology business. The deal is small, so it won’t be a game-changer for the industrial conglomerate as a whole. But it’s a move in the right direction to improve Honeywell’s overall portfolio and better align it with its more profitable business segments. The company’s stock hit a 52-week high this week. But as we reported earlier this month, Honeywell completed its acquisition of Carrier’s security business, but it still has to figure out what to do with its non-core, underperforming businesses. (Jim Cramer’s Charitable Trust is long HON, NVDA, MSFT, and AVGO. See the full list of stocks here.) Subscribers to Jim Cramer’s CNBC Investment Club receive trade alerts before Jim makes a trade. Jim waits 45 minutes after sending out a trade alert before buying or selling shares in the Charitable Trust’s portfolio. If Jim talks about a stock on CNBC TV, we will wait 72 hours after issuing a trade alert before executing the trade. The above Investment Club information is subject to our Terms of Use and Privacy Policy and Disclaimer. Receipt of any information provided in connection with the Investment Club does not create any fiduciary duty or liability. No specific results or benefits are guaranteed.
