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 dipped on Thursday following Wednesday’s subdued session. Investors are bracing for trade updates following Chinese media reports of a phone call between President Donald Trump and President Xi Jinping. “What’s at stake is higher than anything we see,” Jim Cramer said. Though details of the call are unknown, China’s strong hold on rare earth materials is now a hot topic. “Are they discussing the idea that maybe Nvidia will swap [chips] in order to get the rare minerals?” Jim said. “That call could change everything you see on screen.” The White House has yet to confirm the call, according to CNBC. Interest rates are still lower after Wednesday’s weak ADP report. If Friday’s job report confirms the ADP stats, “the pressure at this time may be so great that they [the Fed] have to do something,” Jim said. 2. Club name Costco is down a little more than 3%, after the retailer on Wednesday reported May sales growth cooled down from April and missed expectations. Global sales were up 4.3% year over year versus the 4.7% expected. Excluding foreign exchange and gas prices, sales increased 6% versus 6.2% expected. The stock has given back some gains since reporting earnings last week, but is still up 11.6% year to date. Jim has been a long time supporter of Costco, touting it as the go-to retailer in any economic environment. The Club is “not profit taking” when it comes to Costco, said Jeff Marks, director of portfolio analysis for the Club. 3. Broadcom reports after the closing bell Thursday and the stock is still on a run: up more than 7% this week and 10% in the past two weeks. The Club is not enthused over the set up into earnings. But we’re expecting a strong ramp from its current AI customers Google and Meta , with some potential noise from Bytedance due to headlines out of China. The semiconductor manufacturer announced earlier this week that its now shipping out the Tomahawk 6 switch, which it says is better than any Ethernet on the market. 4 . Stocks covered in Thursday’s rapid fire at the end of the video were: Visa , Chewy , Procter & Gamble , Five Below , and Brown-Forman . (Jim Cramer’s Charitable Trust is long AVGO, COST. 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.
