每个工作日美国东部时间上午10:20，吉姆·克莱默（Jim Cramer）的CNBC投资俱乐部都会举行“早间会议”直播。以下是周四关键时刻的总结。
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.
- 周四股市下跌，长期国债收益率攀升至二十多年来的最高水平。在供应管理协会（ISM）的支付价格指数表现高于预期、并进一步巩固美联储今年可能再次加息的预期之后，基准的10年期国债收益率一度升至5.34%，创下2002年以来的最高水平。西得克萨斯州中质原油（WTI）也攀升至每桶92美元以上，进一步加大了收益率的压力。吉姆·克莱默表示，市场需要更温和的经济数据来拉低收益率并缓解股市压力。较高的收益率使得相对于股票而言，债券作为资金投向更具吸引力。标准普尔振荡指标（S&P Oscillator）处于负5.1%的明确超卖状态，但鉴于收益率如此之高，吉姆警告称，即使在更有吸引力的价格水平下，股市也可能继续承受压力。作为我们信赖的动量指标，振荡指标是一种技术指标，用于衡量市场是否向单一方向走得太远并可能迎来反转。
Stocks fell Thursday as long-term Treasury yields climbed to levels not seen in more than two decades. The benchmark 10-year yield rose as high as 5.34%, its highest since 2002, after the Institute for Supply Management's prices-paid index came in hotter than expected, reinforcing expectations that the Federal Reserve could raise interest rates again this year. West Texas Intermediate crude also climbed above $92 a barrel, adding to the pressure on yields. Jim Cramer said the market needs softer economic data to bring yields down and ease the pressure on stocks. The higher yields make bonds look like a more attractive place to put your money relative to equities. The S & P Oscillator is firmly oversold at negative 5.1%, but with yields this high, Jim cautioned that stocks could remain under pressure even at more attractive prices. Our trusted momentum indicator, the Oscillator is a technical indicator used to gauge whether the market has moved too far in one direction and could be due for a reversal. 2.
- 尽管吉姆称美光（Micron）周三晚间交出了“出色的季度财报”，但其股价仍然下跌。一些投资者可能对其第一季度毛利率前景以及增加制造产能资本支出的计划感到担忧，这可能导致内存供应过剩并最终削弱定价权。但这些担忧忽视了美光关于供需失衡令人鼓舞的长期评论。该公司目前拥有26份战略客户协议，高于上一季度的16份，这为未来的需求提供了更高的可见度。吉姆表示，未来两年的前景是“我听过的最好的”，尽管他承认该股在短期内可能继续承压。“我认为这里的下跌动量必须受到重视，”他说。
Micron shares dropped despite delivering what Jim called a "great quarter" Wednesday evening. Some investors may be concerned about Micron's first-quarter gross margin outlook and its plans for increased capital spending on manufacturing capacity, which could lead to excess memory supply and ultimately drive prices power. But those worries overlook Micron's encouraging long-term commentary on the supply-demand imbalance. The company now has 26 strategic customer agreements, up from 16 last quarter, providing greater visibility into future demand. Jim said the outlook for the next couple years is "the best that I've ever heard," though he acknowledged the stock could remain under pressure in the near term. "There's a momentum to the downside here that I think has to be respected," he said.
另一个可能推动股价上涨的因素将出现在12月：届时与美国政府相关的资金限制将解除，Micron公司就可以将其积累的现金用于大规模的股票回购计划。Jim表示：“在回购计划开始之前，实在不明白为什么还要出售这些股票。”
Another catalyst could come in December, when restrictions tied to U.S. government funding expire and Micron is allowed to deploy its growing cash pile toward a potentially significant buyback. "I don't know why you'd sell it now" ahead of the buyback kicking in, Jim said. 3.
周四，Cardinal Health的股价上涨了超过3%，原因是该公司将其与CVS Health的药品分销协议延长至2032年6月。同时，Cardinal Health再次重申了其2027财年的盈利预期，预计每股调整后收益将增长13%至15%，并维持了其长期盈利增长目标。该公司投资组合总监Jeff Marks表示，这些积极的信息表明与CVS的合作关系将持续稳定发展。
Shares of Cardinal Health rose more than 3% Thursday after the drug distributor extended its pharmaceutical distribution agreement with CVS Health through June 2032. In conjunction, Cardinal reaffirmed its fiscal 2027 outlook for 13% to 15% adjusted earnings-per-share growth, along with its long-term EPS expansion guidance. Reiterating both outlooks "suggests a continuation of current economics" with CVS, portfolio director Jeff Marks said.
此前投资者曾担心，合同谈判可能会对Cardinal Health及其竞争对手McKesson的利润空间产生负面影响；但Cardinal Health周四发布的最新消息进一步坚定了我们上周买入该股票的决策（尽管此前股价曾短暂下跌）。此前，Cardinal Health已连续发布了多项良好的业绩报告，并多次上调盈利预期。
There'd been some concern among investors that the contract negotiations could result in Cardinal and rival McKesson seeing their take rate squeezed in a detrimental way. Thursday's update from Cardinal reinforces our decision to buy the stock last week after a slight pullback, and adds to a string of strong results and raised outlooks. Cardinal Health is set to report first-quarter earnings for fiscal year 2027 on Nov. 5. 4.
视频结尾部分提到的股票包括：McCormick、Accenture和Toll Brothers。
Stocks covered in Thursday's rapid fire at the end of the video were: McCormick , Accenture , and Toll Brothers . (Jim Cramer's Charitable Trust is long CAH, MU. See here for a full list of the stocks.)
关于Jim Cramer主持的CNBC Investing Club，您会在Jim进行任何交易前收到交易提醒；Jim会在发送交易提醒后等待45分钟，才会执行其慈善信托基金中的股票买卖操作。如果Jim曾在CNBC电视节目中讨论过某只股票，他会在发送交易提醒后等待72小时才会进行交易。
As ar 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.
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