Jim Cramer’s CNBC Investment Club hosts a “Morning Meeting” livestream every weekday at 10:20 a.m. ET. A recap of Wednesday’s key moments. 1. Stocks rose modestly on Wednesday following subdued inflation reports. In the consumer price index for July, both the headline interest rate and the core interest rate were in line with expectations, and the rate of increase slowed slightly from June. Jim Cramer called the document “very benign,” noting that market odds drop to about 40% for the Fed to raise rates in September and 60% for them to remain unchanged, according to the CME FedWatch tool. A drop in bond yields following the CPI data also supported stocks. Thursday morning we’ll find out whether July’s producer price index tells the same story about easing inflation. Jim’s views on the economy and the broader stock market will be on the agenda for our August monthly meeting on Thursdays at noon ET. 2. Interest rates affect corporate, consumer and government borrowing, but Jim urged investors to focus on a company’s fundamentals. Strong infrastructure revenue also supported the overall market, with shares of neo-cloud companies Coreweave and Nebius soaring 19% and 27%, respectively, amid huge demand for AI cloud computing. Check your inbox and text messages soon for a breakdown of what these cloud earnings mean for club stocks Nvidia, Intel, and Micron Technology. 3. Home Depot’s stock price fell more than 2% after the home improvement retailer’s CEO, Ted Decker, announced he would take a temporary medical leave. The company said Decker is expected to return in the coming months. Club portfolio director Jeff Marks wished Decker well and said Home Depot is safe until he returns. Jeff said the company has “deep talent” and has confidence in the two top executives selected to run day-to-day operations in Decker’s absence. Investors will get an update on the business when Home Depot reports earnings next week. 4. The stocks featured in rapid succession at the end of Wednesday’s video were Super Micro Computer, Cava, Intuitive Surgical, and Brinker. (Jim Cramer’s charitable trust is Long NVDA, HD. See here for a complete list of stocks.) As a subscriber to Jim Cramer’s CNBC Investment Club, you will receive trade alerts before Jim makes a trade. After Jim sends a trade alert, he waits 45 minutes before buying or selling stocks in his charitable trust’s portfolio. If Jim talks about a stock on CNBC TV, he will issue a trade alert and then wait 72 hours before executing the trade. The above investment club information is subject to our Terms of Use and Privacy Policy, as well as 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.
