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Jim Cramer’s CNBC Investment Club hosts a “Morning Meeting” livestream weekdays at 10:20 a.m. ET. A recap of Wednesday’s key moments. 1. U.S. stocks rose on Wednesday, rebounding after the market’s worst session in a year. Stocks fell on Tuesday after key inflation data for January came in better than expected. Bond yields soared in reaction, delaying when the market thought the Fed would start cutting rates. June is currently the popular bet. Jim Cramer called it a “necessary sell-off” after recent highs. More important inflation data is expected on Friday. 2. The club is considering buying more shares in blue-chip stocks following losses earlier in the week. “People are itching to buy something that’s really going out of business,” Jim said, citing Starbucks and Stanley Black & Decker as examples. We have been sitting on large amounts of cash and waiting for stock prices to fall in order to take advantage of weaknesses. Both companies have strong fundamentals and long-term growth prospects, but have underperformed the market since the beginning of the year. 3. Wall Street continued to promote Palo Alto Networks on Wednesday. Morgan Stanley expects solid quarterly earnings from the cybersecurity leader due to positive research activity and channel conversations. However, analysts said they were unlikely to become active buyers ahead of next week’s earnings report. Expectations are unlikely to rise significantly, as the stock’s valuation is already above its historical average. It’s hard to argue that the stock is up about 25% year-to-date, more than doubling in 2023 (Jim Cramer Charitable Trust has long run his PANW, SWK, SBUX) (See here for a complete list of stocks). On CNBC Investing Club with Jim Cramer, you’ll receive trade alerts before Jim makes a trade. After Jim sends a trade alert, he waits 45 minutes before buying or selling stocks in a charitable trust’s portfolio. If Jim talks about a stock on his CNBC TV, he will wait 72 hours before executing the trade after issuing a trade alert. The above investment club information is subject to our Terms of Use and Privacy Policy, along with our disclaimer. No fiduciary duties or obligations exist or arise from your receipt of information provided in connection with the Investment Club. No specific results or benefits are guaranteed.
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