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 rose Wednesday ahead of the Federal Reserve’s latest policy announcement at 2 p.m. ET, which will be followed a half hour later by Chair Jerome Powell’s usual press conference. A bunch of “confusing” signals on the economy and the health of the consumer are complicating the Fed’s job, Jim Cramer said. For example, the ADP private payroll report for July was stronger than expected, whereas pending home sales for June were softer than anticipated. “We’ve got the consumer, I think, really hobbled. We’ve got the industrials a la Vertiv … doing well,” Jim said. “It’s going to be very difficult for the Fed when they meet today to figure out what to do, even though we know they’re not going to cut.” As Director of Portfolio Analysis Jeff Marks added, the question is whether the Fed signals in its messaging Wednesday that it’s prepared to cut in September. 2. Shares of Starbucks have curiously turned lower Wednesday in response to Tuesday night’s earnings, giving up premarket gains that were north of 5%. Jim said it’s a gift to investors because he’s confident that CEO Brian Niccol’s turnaround plan is working. “When Capital One was at $165, $170, $175, I urged our viewers to buy it. I tell you I have the same level of conviction about buying Starbucks,” Jim said. “When I spoke to Brian Niccol at length last night and I obviously interviewed him this morning, what I got was the same thing I heard from him when Chipotle was about to take off.” 3. Eli Lilly shares added more than 1% Wednesday after a positive Citigroup note, cutting into some of Tuesday’s sell-off that was driven by rival Novo Nordisk’s obesity drug warnings. While we trimmed some Lilly on Tuesday to manage our risk ahead of Lilly’s own earnings report next week, our long-term view of the company hasn’t changed. “We don’t want to run the risk of them saying similar things,” Marks explained. Looking out further out, Lilly has an obesity pill in its pipeline that could hit the market in early 2026. “We seem to have forgotten what their edge is going to be,” Jim said. “They have the pill coming.” 4. Stocks covered in Wednesday’s rapid fire at the end of the video were: Vertiv , Visa , GE Healthcare , Mondelez , and VF Corp . (Jim Cramer’s Charitable Trust is long LLY and SBUX. 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.
