Tech
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. 1. Stocks were modestly higher Wednesday on a subdued inflation report . The July consumer price index saw both the headline and core rates come in as expected, with gains easing a bit from June. Jim Cramer called the print “very benign,” pointing to market odds going down to about 40% for an interest rate hike at the Federal Reserve’s September meeting and 60% for a hold, according to the CME FedWatch tool. The CPI data pushed bond yields lower, which also supported stocks. On Thursday morning, we will see if the July producer price index tells the same story of moderating inflation. Jim’s views on the economy and the broader stock market are on the agenda of our August Monthly Meeting on Thursday at noon ET. 2. While rates impact corporate, consumer, and government borrowing, Jim urged investors to focus on company fundamentals. The broader market was also supported by strong infrastructure earnings beats from neocloud companies Coreweave and Nebius , whose shares surged 19% and 27%, respectively, amid massive demand for AI cloud computing. Check your inboxes and texts shortly for a breakdown of what these cloud earnings mean for Club stocks Nvidia , Intel , and Micron Technology . 3. Home Depot shares fell more than 2% after the home improvement retailer announced its CEO, Ted Decker, is taking a temporary medical leave of absence. The company said that Decker is expected to return in the next few months. Club portfolio director Jeff Marks wished Decker well and said Home Depot should be in good hands until he gets back. The company has a “deep bench,” Jeff said, putting faith in the two top executives tapped to run the day-to-day operations during Decker’s absence. Investors will get an update on the business when Home Depot reports earnings next week. 4. Stocks covered in Wednesday’s rapid-fire at the end of the video were: Super Micro Computer , Cava , Intuitive Surgical , and Brinker . (Jim Cramer’s Charitable Trust is long NVDA, HD. 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.
We’re encouraged by Wednesday’s benign inflation data and strong neocloud earnings
Source link
