Robust profits from TSMC fail to provide Nvidia’s stock with the boost it urgently requires.
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 is mixed on Thursday following a sharp pullback for stocks on Wednesday. The market’s decline was accelerated by comments from Federal Reserve Chair Jerome Powell, who tempered expectations of a near-term cut in interest rates. Powell is seeking clarity on tariff impacts before making adjustments, which prompted President Donald Trump to express his frustration with Powell on social media. While investors typically favor lower interest rates, Jim Cramer indicated that it’s premature to advocate for them at this moment. “The market should want price stability,” he said. Regarding the latest tariff updates, Trump mentioned on Truth Social that he’s had productive communication with Mexico, Japan, and Italy.
2. Club stock Eli Lilly surged more than 14% on Thursday following a significant win for its oral GLP-1 orforglipron in a late-stage trial. The data in Lilly’s press release suggests the drug delivers injection-like efficacy and safety through a daily pill, according to analysts. CEO David Ricks anticipates the drug receiving Food and Drug Administration approval for obesity in early 2026. “It’s great news,” said Jeff Marks, director of portfolio analysis for the Club, though he added that the impact of tariff clarity on pharmaceuticals also needs to be considered.
3. Taiwan Semiconductor Manufacturing Co. reported positive first-quarter results and delivered a second-quarter revenue forecast that surpassed Wall Street estimates. The company, which manufactures chips for Club names such as Nvidia, Broadcom, and Apple, noted they have not observed any changes in consumer behavior and maintained its annual revenue forecast. TSMC also expects revenue from AI accelerators to more than double by 2025, and it kept its capital expenditures outlook unchanged. Jeff remarked that the company’s figures and commentary provide a “good readthrough” for Nvidia. While TSMC shares edged slightly higher on Thursday, Nvidia’s stock experienced a decline for the second consecutive day. During our Monthly Meeting on Wednesday, Jim explained that he decided to retire his “own it, don’t trade it” mantra on shares of Nvidia and Apple.
4. Stocks discussed in Thursday’s rapid-fire segment at the end of the video included: UnitedHealth Group, American Express, D.R. Horton, and CSX. (Jim Cramer’s Charitable Trust maintains positions in LLY and NVDA. For a complete list of the stocks, please refer to the relevant section.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim executes a trade. Jim waits 45 minutes after issuing a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has discussed a stock on CNBC TV, he waits 72 hours after sending the trade alert before executing the trade.
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