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. U.S. oil prices surged Thursday as traders questioned the “validity of the truce” between the U.S. and Iran, and “what it really means” for crude transport through the Strait of Hormuz, Jim Cramer said during the Morning Meeting. West Texas Intermediate oil futures shot up 8%, back over $100 per barrel. The move follows Wednesday’s 16% decline on the ceasefire announcement. “Even though oil has come back, I am quite surprised that the market holds up,” Jim added, as the S & P 500 was flat Thursday. (The index turned green later in the session.) He noted there are a lot of stocks supporting the market, such as Club names GE Vernova , Amazon , and Corning . 2. Shares of Meta Platforms were also among our best performers on the day, rising more than 2.5%. The stock added 6.5% in the prior session after the company announced a new AI model, Muse Spark. On Thursday, Meta also made news, when CoreWeave announced an expanded AI infrastructure agreement with the Facebook and Instagram company worth $21 billion. Jim asked Jeff Marks during the meeting, “Is Meta back?” Jeff, who is the director of portfolio analysis for the Club, said the stock is still cheap despite back-to-back strong days. Jim and Jeff have played down concerns after Meta recently lost two social media addiction court cases. 3. Credit card giant Capital One got an upgrade to a buy-equivalent overweight rating at JPMorgan, with a price target of $213 per share. That PT implies 8% upside from current levels. This Club stock has been a tough one — down more than 20% year to date. The JPMorgan analysts see limited downside risk at current levels unless a new tailwind risk emerges. They also cited benefits from the continued integration of Discover. Jim acknowledged that Capital One is in a “crowded group” of consumer finance companies, including new-guard buy-now-pay-later names like Affirm and old-guard names like American Express . 4. Stocks covered in Thursday’s rapid fire at the end of the video were: Constellation Brands , Texas Instruments , McCormick , and Unilever . (Jim Cramer’s Charitable Trust is long META, COF. 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.
Cramer says one thing surprises him most about Thursday’s stock market
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