The CNBC Investing Club with Jim Cramer holds a Morning Meeting livestream every weekday at 10:20 a.m. ET to discuss key moments in the market. On Wednesday, U.S. stocks fell as investors reacted to hotter-than-expected inflation data, leading to concerns that the Federal Reserve may keep interest rates higher for longer. Jim Cramer expressed disappointment in investors who were selling in response to the news, as he believes the economy is performing well. The Club is focused on the upcoming quarterly earnings season, with Constellation Brands and Wells Fargo set to release results soon. Nvidia shares were up on Wednesday, defying the overall market trend, and analysts predict the company will continue to dominate the accelerator market despite competition.
Bank of America analysts characterized Nvidia’s recent decline as a “refreshing pause” and suggested that the current volatility should not be a cause for concern. This dip marked the ninth time Nvidia shares have declined by 10% or more since late 2022 when ChatGPT was launched. Wall Street analysts are optimistic about Nvidia’s future prospects and believe the company will maintain its market dominance, despite new challengers like Intel with its latest AI chip, Gaudi 3. Meanwhile, Citigroup analysts downgraded Linde shares to neutral, citing valuation concerns, but Jim Cramer disagreed with the downgrade, noting that Linde continues to deliver strong earnings despite no volume growth.
As a subscriber to the CNBC Investing Club with Jim Cramer, members will receive trade alerts before Jim makes any trades in his charitable trust’s portfolio. Jim adheres to a waiting period of 45 minutes after sending a trade alert before executing a trade and waits 72 hours after discussing a stock on CNBC TV before making a trade based on that stock. It is important to note that the information provided by the Investing Club is subject to terms and conditions, privacy policy, and a disclaimer. There is no fiduciary obligation or duty created by receiving information from the Club, and no specific profit outcome is guaranteed. The Club holds long positions in stocks including LIN, NVDA, STZ, and WFC. Members are encouraged to review all relevant information and exercise caution when making investment decisions.
