How the port strike could actually boost Costco sales

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 turned lower Thursday after a temporary move higher on a solid ISM services reading for September. Weekly jobless claims were a bit higher than expected but not really a game-changer ahead of Friday’s government employment report. Club stock Nvidia jumped more than 3% — bucking the pressure on Big Tech. CEO Jensen Huang told CNBC late Tuesday that demand for the company’s next-generation Blackwell chip platform is “insane” and in “full production.” Our other two chip stocks Broadcom and Advanced Micro Devices were also higher. 2. Eli Lilly ‘s Zepbound and Mounjaro are no longer in short supply, the Food and Drug Administration said late Wednesday. This means that the billions of dollars the company has invested in manufacturing these GLP-1 drugs for weight loss and diabetes, respectively, is finally catching up with demand. In JPMorgan’s earnings preview last week, the analysts said Lilly is below consensus on third-quarter sales but above in Q4 and beyond. We’re paying closer attention to management’s guidance on manufacturing capacity and supply versus the quarterly numbers. Club name Lilly reports earnings on Oct. 30. 3. Oppenheimer believes Costco could get a short-term bump in sales from customers stocking up on goods on fears of shortages created by the port strike. This view was based on analysts’ checks at a northern New Jersey location where they saw customers en masse snapping up essentials. Earlier this week , we looked at how Club name Costco and other retailers have been keeping tabs on the dockworker labor contract talks for months now and preparing for a strike by pre-shipping inventory. (Jim Cramer’s Charitable Trust is long NVDA, AVGO, AMD, LLY, COST. 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.