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CNBC Investing Club’s “Morning Meeting” with Jim Cramer airs live every weekday at 10:20 a.m. ET. Here’s a recap of Wednesday’s highlights. 1. Stocks rebounded on Wednesday after a weaker session to start the week. The Nasdaq led the way, jumping more than 1.5% and trading above 20,000 for the first time. Alphabet stocks extended strong gains for the second day in a row. Shares of parent Google rose about 4% on Wednesday, after closing more than 5% higher on Tuesday after reports of progress on a new quantum chip called Willow. A major reason for the tech boom, according to Jim Cramer, is that “there is no longer an existential crisis at the FTC.” Jim suggested that President-elect Donald Trump’s decision to promote Andrew Ferguson to FTC commissioner should result in a softer antitrust stance at the agency compared to the heavy hand of the Biden administration. 2. Club stock Broadcom jumped 5.5% on Wednesday after a report from The Information said Apple is working with a custom semiconductor designer to develop the iPhone maker’s first server chip designed for AI. The story said, if the project goes ahead, the chip could be ready for mass production by 2026. While he refuses to put too much weight on The Information’s reporting, this news, if true, would be further evidence of the industry’s move to custom. Chips that make Broadcom shine. Broadcom will report quarterly earnings after the closing bell on Thursday. Apple also rolled out more iPhone AI features. 3. Shares of Eli Lilly fell on Wednesday, even as the drugmaker is teaming up with private telehealth company Ro to begin offering single-dose vials of Lilly’s weight-loss treatment Zepound. The partnership, which should make it easier to get the drugs, is in line with management’s comment on the third-quarter earnings call about plans to increase marketing efforts. Jim is also very enthusiastic about the potential of Zepbound’s active ingredient tircepatite to treat other conditions. That’s why he wants to buy more Lilly stock “if it goes down.” Jim confirmed that if Bristol-Myers Squibb shares in the club “go down to $55, I’m going to say we have to buy Bristol-Myers.” The stock, down about 1.4% on Wednesday, was trading at about $57 a share. 4. Stocks covered in Wednesday’s rapid fire at the end of the video were: GE Vernova , Boeing , General Motors , Kroger and Albertsons . (Jim Cramer’s Charitable Trust is long GOOGL, AVGO, LLY, BMY. See the full list of stocks here.) As a subscriber to the CNBC Investing Club with Jim Cramer, you’ll receive a trade alert before Jim trades. Jim will wait 45 minutes after sending a trade alert before buying or selling a share in his charitable trust portfolio. If Jim has talked about a stock on CNBC TV, he will wait 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTMENT CLUB INFORMATION IS PURSUANT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY, SUBJECT TO OUR DISCLAIMER. NO FIDUCIARY OBLIGATION OR OBLIGATION IS CREATED, OR CREATED, FOR ANY INFORMATION ENTERED INTO WITH THE INVESTMENT CLUB. NO SPECIFIC RESULTS OR PROFITS ARE GUARANTEED.
Every weekday, Jim Cramer is joined by the CNBC Investing Club “Morning Meeting” live broadcast at 10:20 a.m. ET. Here’s a recap of Wednesday’s highlights.
