The CNBC Investing Club with Jim Cramer holds a daily “Morning Meeting” livestream at 10:20 a.m. ET. On Wednesday, the major U.S. stock indexes were mixed, with the Dow Jones Industrial Average attempting to extend its five-day winning streak. Jim Cramer noted that the Dow may be able to withstand a weaker U.S. economy due to defensive stocks like drugmaker Merck that tend to perform well during economic slowdowns. Despite signs of cracks in the economy, there are enough stocks in the Dow that can thrive in such conditions, according to Jim.
U.S. oil prices hit their lowest level since mid-March on Wednesday, as rising inventories weighed on the market. Wynn Resorts saw its shares drop over 2% after a stronger-than-expected quarterly release on Tuesday, with concerns about consumer spending in the U.S. and the Chinese economy impacting investor sentiment. Jim Cramer acknowledged that analysts who raised their price targets following earnings may eventually be proven right, even if it might not happen immediately. Walt Disney stock experienced a slight increase on Wednesday, aiming to recover from a recent earnings sell-off. Jim mentioned that falling below the $100-per-share level could be a trigger for the CNBC Investing Club to buy back some of its Disney holdings, as he expects a positive fourth quarter for the entertainment giant.
Subscribers to the CNBC Investing Club with Jim Cramer will receive trade alerts before Jim makes a trade. Jim follows a specific protocol, waiting 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If a stock has been discussed on CNBC TV, Jim waits 72 hours after issuing the trade alert before executing the trade. It is important to note that the information provided by the Investing Club is subject to terms and conditions, privacy policy, and a disclaimer. There is no fiduciary obligation or duty created by receiving information from the Investing Club, and no specific outcome or profit is guaranteed.
In summary, the daily “Morning Meeting” livestream provides a recap of key moments in the market, offering insights from Jim Cramer on various stocks and economic indicators. The Dow Jones Industrial Average’s ability to withstand economic pressures through defensive stocks is highlighted, along with the impact of rising oil prices and earnings reports on companies like Wynn Resorts and Walt Disney. Subscribers to the CNBC Investing Club with Jim Cramer have access to trade alerts and a specified protocol for executing trades. It is essential to understand the terms and conditions, privacy policy, and disclaimer associated with the Investing Club to make informed decisions about trading strategies.
