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. Markets are volatile on Wednesday after a nasty intraday reversal on Tuesday. Wall Street is focused on spiking 10-year Treasury yield rates, which at one point briefly topped 4.5% before retreating somewhat. However, Jim Cramer said investors should not lose sight of potentially encouraging signs in the market Wednesday, most notably that companies with major exposure to China such as Apple and Broadcom are “reacting positively.” Those are stocks that “should be signaling we’re in trouble,” Jim said. Meanwhile, the S & P Oscillator is in historic deeply oversold territory at minus 10.62%, leading us to make small buys in Dover and Texas Roadhouse. The Oscillator, our trusted momentum indicator, has only hit minus 10 on 12 occasions in the past 17 years. 2. Retaliations for the U.S. latest tariff announcements are underway. China hit the U.S. with tariffs of 84% on imported goods, up from 34%, effective Thursday. This comes after the U.S. increased minimum tariffs on imports from China to 104%. The rapid escalation of events leaves little doubt that trade between the world’s two largest economies is in a tricky spot. 3. The European Union also responded to U.S. tariffs on steel and aluminum, approving their first set of retaliatory tariffs to begin on April 15. The countertariffs are expected to include goods such as soybeans, poultry and metals, among other things, CNBC reported. A silver lining, according to Jim, is that Europe could have instead targeted American tech giants, such as Alphabet-owned Google and Apple. “What we’re being hurt by is our own tariffs,” Jim said. Jeff Marks, director of portfolio analysis for the Club, said investors should keep their eyes peeled for any deals with other countries, which could improve optimism and sentiment in the markets. (Jim Cramer’s Charitable Trust is long AVGO, COF, DOV . 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.
