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. U.S. stocks were higher Thursday as Wall Street mulled over the Federal Reserve’s latest interest rate signals from the session prior. The central bank left rates unchanged Wednesday, and Fed chief Jerome Powell signaled no further hikes and a wait-and-see on possible cuts. “That’s a win for stocks,” Jim Cramer said Thursday. “The markets are now reacting the way they should’ve reacted yesterday” when the S & P 500 gave up its post-Fed bounce and closed modestly lower. Investors are awaiting Friday’s jobs report for another gauge of the economy’s health. Earnings season continued Thursday, with portfolio names Coterra Energy and Apple on deck to post results after the close. Jim maintained his “own it, don’t trade it” stance on the iPhone maker’s shares despite concerns about China weakness. The Club is also buying more of these two industrial-focused names — Stanley Black & Decker and Linde — as shares of each fall following their Thursday morning earnings releases. UBS upgraded TJX Companies to a buy from hold rating and raised the retailer’s price target to $132 per share from $104. Analysts at the firm, who’ve historically been bearish on the stock, argued that TJX will record more market share gains from department stores. We think TJX is a great retail name to own if you’re worried about the U.S. consumer. Jim said the Club is buying shares of TJX, which houses off-price stores like Marshalls and HomeGoods. Here’s our trade alert for Thursday’s three buys. (Jim Cramer’s Charitable Trust is long CTRA, AAPL, TJX, SWK, LIN. 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.
We’re buying 2 unfairly punished stocks and 1 on an analyst call