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. All three major indexes rallied Thursday, with the Dow reclaiming 50,000 after an important U.S.-China meeting and a blowout earnings report from Cisco Systems . It was a mixed bag for semiconductor stocks Thursday. Some like Club names Nvidia and Broadcom are rallying. Others like Micron and Qualcomm fell. Jim Cramer believes investor enthusiasm surrounding the debut of AI chip company Cerebras may be pulling money away from some semis and other AI stocks. “Cerebras is just a magnet for money,” he said. 2. Cybersecurity stocks, including Club holdings Palo Alto Networks and CrowdStrike , remained in rally mode Thursday. Palo Alto and CrowdStrike are touching fresh all-time highs in Thursday’s session after closing at records in the prior session. The gains come after Palo Alto on Wednesday morning said it leveraged advanced AI models to spot and fix vulnerabilities in its products. The company also warned other companies about the intensifying threat posed by adversaries using AI. Jim said concerns that AI would replace cybersecurity vendors look increasingly overblown. We’ve pushed that view for months and amplified it again Tuesday . “They should never have been in the software index,” Jim said, arguing the group is better viewed as defensive infrastructure than traditional software. He also highlighted CrowdStrike’s cloud-native platform and management team as key reasons for the Club’s continued conviction. 3. Consumer stocks have struggled lately as higher gas prices and inflation raise concerns about weaker spending. Now, Jim thinks the recent pullback in TJX Companies has created a potential buying opportunity ahead of earnings next week. Shares are down roughly 10% from their April highs. “This is what you buy when you see retail sales weaker,” Jim said, pointing to TJX’s value-focused model as a likely beneficiary if shoppers become more price conscious. Jim and Jeff Marks, director of portfolio analysis for the Club, said we would be buyers if not for our current trading restrictions. However, they said they plan to revisit the stock Friday. 4. Stocks covered in Thursday’s rapid fire at the end of the video were: Starbucks , FedEx , Solstice , and Wells Fargo . (Jim Cramer’s Charitable Trust is long Boeing, Crowd Strike, Palo Alto, Starbucks, TJX, and Wells Fargo. 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 ….
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