Every weekday, the CNBC Investing Club with Jim Cramer holds a live “Morning Meeting” at 10:20 a.m. ET. Here's a recap of Friday's key moments. 1. Wall Street rose on Friday after a “really bad day” the previous session, in Jim Cramer's words. The decline occurred late Thursday as bond yields rose due to “good economic data seen as bad news.” The market was also sold off even though Nvidia shares rose 9% after earnings. The artificial intelligence chip giant's stock rose modestly on Friday. Goldman Sachs pushed its forecast for the Fed's first interest rate cut to September from July. Cramer said Friday that interest rates should stay high for longer because “inflation cannot be the biggest problem in America.” 2. Eli Lilly is investing $5.3 billion to boost manufacturing at an Indiana plant to expand production of weight loss drug Zepbound, diabetes treatment Mounjaro, and others. This brings Lilly's total investment in the site to $9 billion from $3.7 billion. The company expects to begin manufacturing drugs at the site at the end of 2026, with operations expanding into 2028. This significant upfront investment demonstrates Lilly's commitment. “There is a lot of demand for this product,” Cramer said, referring to GLP-1 products that contain the common active ingredient tirzepatide. Zepbound and Mounjaro compete against Novo Nordisk's Wegovy and Ozempic. 3. Four clubs report earnings next week: Salesforce, Best Buy, Foot Locker, and Costco. Salesforce on Wednesday after the closing bell. The stock fell in sympathy with HR software company Workday. Cramer said he was “almost tempted to buy some” of Salesforce on the dip. Best buy is Thursday before the opening bell. Cramer said he was early to buy into e-retailers in case AI-powered computers came to market quickly. This did not happen. But he will stay. Foot Locker is also available on Thursday mornings. It's about trying to figure out where CEO Mary Dillon is in her transformation. Nike's recent poor performance is not a good sign. Costco on Thursday after the bell. Could Costco be the next to split its stock? Cramer said it would be great and noted that he had been urging Nvidia to break up, which it did this week. (See here for a complete list of stocks in Jim Cramer's Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you'll receive a trade alert before Jim takes a trade. Jim waits 45 minutes after a trade alert is sent before buying or selling a stock in his charitable fund's portfolio. If Jim talks about a stock on CNBC TV, he waits 72 hours after the trade alert is issued before executing the trade. The above Investment Club information is subject to our Terms and Conditions and Privacy Policy, as well as our Disclaimer. No obligation or fiduciary duty exists or is created by your receipt of any information provided in connection with the Investment Club. No specific results or profits are guaranteed.
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Eli Lilly's big investment in GLP-1 – plus CRM, BBY, FL and COST earnings next week
