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. U.S. equities were mixed in midmorning Thursday — the S & P 500 was down 0.13%, while the Nasdaq Composite rose 0.13% — following the release of the Labor Department’s consumer price index for September. The monthly report came in slightly higher than expected, with U.S. inflation climbing by 0.4% on the month, ahead of a Dow Jones estimate of 0.3%. “This is one of those days that mega caps are going to shine,” Jim Cramer said Thursday. Those behemoth companies don’t need to borrow money, he explained, so wouldn’t be hurt like other firms if the Federal Reserve were to again raise interest rates on signs of persistent inflation. Bond yields, meanwhile, were mainly steady, with that of the 10-year Treasury hovering above 4.6%. Oil prices climbed by more than 1%, as West Texas Intermediate crude reached for $85 a barrel. “This is a consolidation day,” Jim said of the market. 2. Following the announcement Wednesday that Exxon Mobil (XOM) agreed to buy Club holding Pioneer Natural Resources (PXD) for $59.5 billion in an all-stock deal , Jim reiterated Thursday the Club’s intention to fully exit our position . Once we clear our trading restrictions, we could look to sell our Pioneer shares as early as Monday. Pioneer will continue to pay a dividend until the deal closes, but with some stipulations. “We’re going to take the money and run,” Jim said. 3. The United Auto Workers union on Wednesday expanded its strike against Club holding Ford Motor (F) to the automaker’s largest and most lucrative factory, in Kentucky, halting 41% of Ford’s production capacity. Bank of America estimated the work stoppage at this plant has a weekly impact of $247 million on Ford’s earnings before interest and taxes (EBIT), or a dent of 5 cents to earnings-per-share. But Jim said Thursday that the Club has no intention of getting out of Ford. “I still believe there will be a resolution,” he added. (Jim Cramer’s Charitable Trust is long PXD, F. 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.
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