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 slightly higher Wednesday after a four-session losing streak on tech weakness. Investors were re-entering the AI trade, betting that Club name Nvidia ‘s after-the-bell earnings would quell concerns about artificial intelligence valuations. Jim Cramer said he doesn’t trust Wednesday’s stock gains because the overall market, as measured by the S & P Short Range Oscillator , is not oversold. “That is disconcerting to me,” Jim added. Jeff Marks, director of portfolio analysis for the Club, said the “stakes are high” for Nvidia’s earnings. Before Wednesday’s open, Club name TJX reported strong earnings and gave a rosy outlook. The TJX conference call just ended, and we will have our full TJX earnings report out shortly. 2. Jim wants more Procter & Gamble . “I wish it would go to $140 so we could buy all the Procter we want,” he said of the newest portfolio name. Shares were slightly lower Wednesday, trading around $146 each. The Club initiated P & G on Tuesday. “If we do see some rotation out of tech, this is a logical name,” said Jeff. Jim echoed similar sentiments about Club name Boeing , with shares down more than 2%. “This is an opportunity,” Jim said. We have been steadily bulking up our Boeing position since we started it in early September. 3. Lowe’s shares jumped 5% after the home improvement retailer beat on earnings and matched on revenue in the third quarter. An increase of 0.4% in same-store sales at Lowe’s was much better than Home Depot ‘s 0.2% comps advance, which accompanied an earnings miss and a revenue beat. “I admit that I’m in Home Depot for my Charitable Trust and I actually wish I was in Lowe’s,” Jim said earlier on “Squawk on the Street.” Lowe’s also has good prices, Jim noted later on the Morning Meeting. “Home Depot did not do what I wanted, but [the stock] is too low given the fact that there are going to be rate cuts,” he stressed. The Club added to Home Depot shortly after Tuesday’s post-earnings stock decline. To be sure, both Lowe’s and Home Depot were cautious in their forward guidance. 4 . Stocks covered in Wednesday’s rapid fire at the end of the video were: Target , Constellation Energy , DoorDash , and Anheuser-Busch InBev . (Jim Cramer’s Charitable Trust is long BA, NVDA, PG, 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.
