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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. U.S. stocks were mixed on Wednesday after the S&P 500 closed at a record high on Tuesday as artificial intelligence momentum trading recovered. The next day, only the technology industry was in the red. The move was not surprising given the recent rise in inflation statistics, although rising bond yields did not help. The consumer price index for February rose more than expected on Tuesday. The February producer price index will be released on Thursday. General Electric plans to exchange GE Healthcare’s stock for more debt. The secondary offering announced Tuesday night was increased to 14 million shares. GE last announced in February that it would sell its stake in its former medical technology unit, and that announcement sent GEHC stock higher. This time, GEHC fell 4% on Wednesday, as the stock price, which has been at high levels since last month’s selloff, was probably less attractive to investors. We continue to believe that GE’s sales are helping GEHC eliminate overhang, and that GEHC is benefiting from increased hospital admissions and demand for AI-enabled imaging equipment. There is. Bank of America raised its price target on NVIDIA from $925 to $1,100 per share ahead of the AI chip giant’s annual GTC developer conference. BofA analysts cited Nvida’s strong pipeline and “remaining attractive” valuation of the company’s stock as reasons for the price increase. Lately, his Nvidia trade has been volatile heading into GTC. Shares fell nearly 3% on Wednesday. Members may have noticed that the Jim Cramer Charitable Trust’s cash position was significantly reduced on Wednesday. That’s because we sent our annual distribution to charity on Tuesday night. This year, it was $157,459, bringing the total amount since the trust’s inception to about $4.3 million. Trusts are portfolios used for CNBC Investing Club. (Jim Cramer’s charitable trusts are long GEHC, NVDA. See here for a complete list of stocks.) As a subscriber to Jim Cramer’s CNBC Investment Club, trade before Jim makes trades. Receive alerts. 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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