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. The S & P 500 was pretty flat Wednesday as investors geared up for the Federal Reserve’s afternoon interest rate decision. “I do think the Fed is going to play ball,” Jim Cramer said. A quarter-point rate cut is widely expected. Aside from the Fed, “I want to talk about the fact that no matter what happens, the Magnificent Seven had a furious rally even as long rates went up,” Jim said. “So, be aware, opportunity beckons” as rates come down. Jim will have more commentary during our Monthly Meeting livestream on Thursday at noon ET. 2. In another positive sign for Home Depot, mortgage rates sharply declined to their lowest levels since 2022. As of Tuesday, the average 30-year fixed rate fell to 6.13%. Refinance demand surged 60% last week amid a drop in home loan costs. Club name Home Depot has consistently been one of Jim’s favorite companies in a lower-rate environment. Mortgage rates below 6.5% have historically boosted the housing market, which should translate into more home improvement sales. “By the way, retail does better,” in a lower rate environment, too, Jim said, pointing to companies like Walmart and Club name Costco . 3. Nvidia shares dropped 3% on Wednesday, following a Financial Times report that China banned its biggest companies, including TikTok-parent ByteDance and Alibaba , from buying RTX Pro 6000D chips. These Nvidia chips were made for the Chinese market. Nvidia CEO Jensen Huang said he’s disappointed by China’s decision. “This is basically a full stop for Nvidia in China,” said Jim, who also referenced the situation as a “political football” as the U.S. and China try to reach a trade deal. Nvidia recently agreed to give the U.S. government a 15% cut of its H20 China-specific chip sales in exchange for export U.S. licenses. 4. Stocks covered in Wednesday’s rapid fire at the end of the video were: FedEX Corp , Netflix , General Mills , Workday , and Lyft . (Jim Cramer’s Charitable Trust is long HD, NVDA, COST. 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.
