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. The S & P 500 and Nasdaq on Thursday retreated from their record highs, set in the previous session, after a cooler-than-expected inflation report sent investors out of Big Tech stocks and into smaller-cap names.
consumer spending on PCs and electronics picks back up. Wells Fargo will kick off the banking sector's quarterly earnings season on Friday. The Club is watching for changes to management's net interest income guidance. The Wall Street firm previously forecasted a 7% to 9% decline in NII for 2024 as customers take their deposits to higher-yielding alternatives. We're hoping these estimates were conservative in order to temper investor expectations. The stock is up 0.8% on Thursday.
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