The CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET on weekdays. Wednesday’s key moments included U.S. stocks jumping following a cooler-than-expected consumer price index report, leading to the S&P 500 and Nasdaq Composite rising to all-time highs. The S&P 500 Short Range Oscillator indicated that the market is overbought, prompting Jim Cramer to suggest taking profits. The club trimmed its position in Morgan Stanley, while research analysts at the firm remained positive on Club holding Palo Alto Networks, citing a favorable setup ahead of quarterly earnings and potential large deals. Shares of Palo Alto rose nearly 2% on Wednesday.
Despite Wall Street analysts at Bank of America remaining negative on Best Buy ahead of its fiscal 2025 first-quarter earnings report due to skepticism about an artificial intelligence-driven personal computer refresh cycle, the CNBC Investing Club remains optimistic about a potential upgrade wave. While acknowledging potential timing issues, Jim Cramer believes the PC refresh could drive foot traffic into stores. Best Buy’s shares are down about 5% year to date compared to the S&P 500’s gain of nearly 11%. The club holds positions in both Palo Alto Networks and Best Buy.
As a subscriber to the CNBC Investing Club with Jim Cramer, members receive trade alerts before Jim makes a trade. Jim follows a 45-minute waiting period after sending a trade alert before buying or selling stock in his charitable trust’s portfolio. If Jim discusses a stock on CNBC TV, he waits 72 hours before executing the trade. The information provided by the investing club is subject to terms and conditions, privacy policy, and disclaimer. There is no fiduciary obligation or duty created by receiving information from the club, and no specific outcome or profit is guaranteed.
Overall, the Wednesday Morning Meeting highlighted the opportunity for profit-taking in an overbought market, with the club trimming its position in Morgan Stanley and showing confidence in Palo Alto Networks. Despite Bank of America’s negative outlook on Best Buy, the club remains optimistic about a potential PC refresh cycle driving foot traffic and has positions in both companies. Subscribers to the CNBC Investing Club with Jim Cramer receive trade alerts before Jim takes action, with specific waiting periods in place to ensure transparent and thoughtful decision-making. The club’s information is subject to terms and conditions, privacy policy, and disclaimer, emphasizing that no specific outcome or profit is guaranteed.
