Every weekday, the CNBC Investing Club with Jim Cramer hosts a live “Morning Meeting” at 10:20 AM ET. Here is a summary of Monday’s key highlights. Fed and Labor Report Watch China Reopen Stocks Watch Eli Lilly 1. Fed and Labor Report Stocks traded higher on Monday as investors await Fed comments and new economic data later this week. Fed Chairman Jerome Powell will testify on monetary policy before Congress on Tuesday and Wednesday. It is expected that his comments will serve as additional signals for further interest rate hikes to combat severe inflation. The February employment report will be released on Friday, and the focus will be on wage growth. Higher-than-expected average hourly pay could mean higher rates for longer periods and lead to market volatility. 2. Keep opening China stocks. Oil prices rose on Monday, reversing an earlier decline after China unveiled a cautious GDP target of around 5% for 2023. Zero covid policy. However, we do not see China’s GDP target as a reason to change our investment thesis about club holdings with strong Chinese influence such as Estee Lauder (EL), Starbucks (SBUX) and Wynn Resorts (WYNN). China is a huge growth market for every company and the improvement in economic activity in the region is expected to be the catalyst for these Chinese consumer-pegged stocks. 3. Watch as Eli Lilly Jefferies initiated Eli Lilly (LLY) Pharmaceuticals coverage with a Hold recommendation and a target price of $290 per share. Analysts believe the stock is “perfectly priced” at current levels around $318. The firm is bullish on Mounjaro, Lilly’s new diabetes drug, which is also being considered for obesity. Jefferies estimates peak sales will be $40 billion. However, analysts are more conservative about the long-term profitability of the drug giant’s Alzheimer’s program. Munjaro’s weight loss potential, not Lilly’s work in Alzheimer’s, is the reason we are in stocks that are a large position in our portfolio. We would like to add more promotions for less than $300. (The Jim Cramer Charitable Foundation is long EL, SBUX, WYNN, LLY. See the full list of stocks here.) As a CNBC Investing Club subscriber with Jim Cramer, you will receive a trade notification before Jim completes the trade. Jim waits 45 minutes after sending a trade alert before buying or selling shares in his charitable foundation’s portfolio. If Jim was talking about a stock on CNBC, he waits 72 hours after a trade alert is posted before making a trade. THE ABOVE INFORMATION ABOUT INVESTMENT CLUB IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY, TOGETHER WITH OUR DISCLAIMER. NO FIDUCIARY RESPONSIBILITIES OR OBLIGATIONS ARE OR ARISING IN CONNECTION WITH YOUR RECEIVING ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTMENT CLUB. NO SPECIFIC RESULT OR PROFIT IS GUARANTEED.