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. Stocks moved higher Thursday, extending Wednesday's rally following comments from the Federal Reserve that hinted at a possible interest rate cut in September. The market also benefited from Meta 's strong second-quarter earnings and positive outlook, especially regarding artificial intelligence.
5% Thursday after the company said a late-stage clinical trial that showed that its fast-growing drug tirzepatide helps improve heart failure symptoms. This is a clear positive as Eli Lilly builds a case for Medicare to cover the drug, which is marketed as Zepbound for obesity. Currently, the U.S. government health plan for seniors is unable to pay for obesity drugs, so clearly demonstrating that it has other health benefits opens the door for coverage.