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 Wednesday’s key moments. The S & P 500 and Nasdaq Composite hit record highs Wednesday while U.S Treasury yields tumbled after the consumer price index print indicated that inflation slowed in May. At the conclusion of the Federal Reserve’s policy meeting later Wednesday, we’ll hear receive central banker’s latest forecast for rate cuts in the so-called dot plot and then hear from Chair Jerome Powell. Club holding Apple is leading the market’s gains on Wednesday, up more than 4%. The stock is extending its run after Monday’s big artificial intelligence announcements . Other portfolio winners include Stanley Black & Decker , which rose 5%. Some stock moves Wednesday feel like a short squeeze, Jim Cramer argued. “The confluence of the CPI numbers and the Fed meeting… and interest rates going down so much, we have the equivalent of short squeeze of the mega caps and homebuilders,” he said. Meta Platforms shares were flat Wednesday, underperforming many Big Tech peers. Jim said investor concerns around advertising in its Instagram Reels business could be weighing on sentiment. However, he argued these worries are overblown, citing Citigroup’s bullish note Wednesday on Meta’s ad load growth – an encouraging sign for user engagement. Meanwhile, days after fellow portfolio name Nvidia’s 10-for-1 stock split took effect, Jim predicted Meta will follow suit. Shares of the social media giant, which announced a dividend earlier this year, traded just below $508 each Wednesday. “They are most likely next to do the split,” he said. “I know it does not create value, but it is worth pointing out.” Broadcom is set to release quarterly earnings after the closing bell. The Club hopes to see continued momentum in the semiconductor company’s AI business, which includes networking products and co-designing custom chips for large tech companies. We’re looking for updates regarding the VMWare integration, as well. Another possible tailwind for Broadcom in the coming quarters: A potential boost in Apple’s iPhone sales during an AI-fueled upgrade cycle. Broadcom is among the Club holdings that stand to benefit from Apple’s AI push. Shares of Broadcom added more than 1% ahead of the release. (Jim Cramer’s Charitable Trust is long AAPL, SWK, AVGO, META, NVDA. 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.
Related Post
Leave feedback about this