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. Wall Street was mixed Thursday, with the S & P 500 higher and the Nasdaq lower. Modest moves in the indexes again masked a rotation out of higher-multiple stocks into lower-multiple ones. It’s why Dover and DuPont , both lower-multiple Club stocks, were getting a look, and higher-multiple names like CrowdStrike and Broadcom were getting hit. We recently trimmed CrowdStrike and Broadcom after big gains. Cramer said that Thursday’s trading is why he wants both kinds of stocks in the Club portfolio, adding that such a strategy covers you on a day like this. The market was still overbought, according to the S & P Short Range Oscillator . 2. Brazilian President Luiz Inacio Lula da Silva said he would respond to the Trump administration’s newly announced 50% tariff rate on its exports with reciprocity. President Donald Trump said the Brazil rate is in retaliation for the ongoing prosecution of the country’s former president, Jair Bolsonaro, and to correct what he called the “unfair trade relationship” between the two countries. One of the imports the U.S. gets from Brazil is coffee, which saw prices up on the futures markets Thursday. Brazil is the world’s biggest coffee producer and exporter. 3. That makes us think about Club name Starbucks , which was little changed Thursday. Following Wednesday’s news about firms putting in offers to buy a stake in Starbucks China, Jim said his faith in CEO Brian Niccol “increases every day.” Jim added he’s on autopilot on Niccol for now, giving him space to turn around the coffee giant. “It’s always been the right thing to do,” he added, referencing Niccol’s turnaround of Chipotle when he was CEO there. Jim reiterated that Starbucks is a good stock to own. Jim and Jeff Marks will talk more in-depth about the portfolio’s stocks at the Investing Club’s Annual Meeting tomorrow from the New York Stock Exchange. The livestream begins at 10:30 a.m. ET. 4. Stocks covered in Thursday’s rapid fire at the end of the video were Delta Air Lines , Oracle , Kellogg , MP Materials , and Conagra . (See here for a full list of the stocks in Jim Cramer’s Charitable Trust.) 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.
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