Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Wednesday’s key moments. U.S. stocks were mixed Wednesday following Tuesday’s record high close for the S & P 500 on a rebound in the synthetic intelligence momentum trade. In the future later, tech was the one sector within the red. While an increase in bond yields was not helping, the move was not surprising given the recent uptick in inflation data. On Tuesday, it was February’s consumer price index coming in warmer than expected. February’s producer price index is out Thursday. General Electric will exchange more of its GE Healthcare equity for debt. A secondary offering, announced Tuesday night, was upsized to 14 million shares. The last time GE said it might sell shares of its former medical technologies unit was in February, and GEHC stock gained ground around that announcement. This time, GEHC fell 4% on Wednesday as shares at a better level since last month’s sale were perhaps not as attractive to investors. We still imagine GE’s sales are helping to remove an overhang on GEHC, which we see as a beneficiary of upper hospital volumes and demand for AI-enabled imaging equipment. Bank of America increased its Nvidia price goal to $1,100 per share from $925 ahead of the AI chip powerhouse’s annual GTC developers conference. Amongst the explanations for the hike, the BofA analysts cited Nvida’s strong pipeline and the stock’s “still compelling” valuation. Trading in Nvidia has been choppy recently within the lead-up to GTC. Shares were down nearly 3% on Wednesday. Members may notice the money position in Jim Cramer’s Charitable Trust was much lower on Wednesday. That is because we sent our annual distribution to charity Tuesday night. This 12 months, it was $157,459 — bringing the cumulative total for the reason that Trust’s inception to about $4.3 million. The Trust is the portfolio we use for the CNBC Investing Club. (Jim Cramer’s Charitable Trust is long GEHC, NVDA. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you’ll receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked a few stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
CEO who used ChatGPT to refer to business icons: ‘Advice was so good’
Joanna Stober, Midi Health CEO and co-founder, has never had a possibility to run her business plans past legendary enterprise...
