Amazon is bouncing back from its earnings slide. But it's not too late to buy the stock

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 jumped Thursday after a better-than-expected July retail sales report indicated consumer spending is holding up despite recession fears. This macroeconomic backdrop "is about as good as you can get," Jim Cramer said Thursday. The latest economic data bodes well for our retail Club names.

He has the capability to turnaround Starbucks just like he did with Chipotle after the company suffered through food safety issues and, more recently, allegations about shrinking portion sizes. "We do believe there's a lot of good there" and intend to stay invested in Starbucks , Jim said.

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