Every weekday, the CNBC Investing Club hosts a “Morning Meeting” live stream with Jim Cramer at 10:20 am ET. Here’s a recap of Wednesday’s key moments. We Run Our Stocks on Fed Day Companies with pricing power are the winners here Quick mentions: CSCO, NVDA, QCOM, MRVL, CRM 1. We Run Our Stocks on Fed Day The Federal Reserve is expected to announce its third rate hike at around 75 straight basis points on Thursday and could provide a glimpse into the central bank’s longer-term plan in its fight against inflation. As it is difficult to predict where the market will go based on how high interest rates are and how hawkish Fed Chair Jerome Powell is, we plan to let our shares run today. Although the market has had a track record of rallying this year’s FOMC days, we don’t know if it will hold up. 2. Companies with pricing power are the winners here In this high-inflation environment, we believe that companies with the power to set prices, rather than lower them, will be the winners. These names are able to handle the many headwinds that dog the economy. Here are two club names that we believe have pricing power: Apple (AAPL) shares rose on Wednesday while shares of many of its peers fell. The company’s decision to raise prices in the overseas App Store to offset currency woes is likely helping to boost the stock. Jim says Abbvie (ABBV) has pricing power, citing JPMorgan’s Tuesday announcement that it sees an “attractive setup for stocks” through 2023. 3. Brief mentions: CSCO, NVDA, QCOM, MRVL, CRM: Jim Cramer said while Barclays downgraded Cisco (CSCO) to equal weight on Wednesday, he believes everything appears to be business as usual for the company . Nvidia (NVDA) CEO Jensen Huang said in his Wednesday appearance on Mad Money that it needs to destock computer graphics cards, but said he believes Nvidia’s new chips will revitalize the gaming industry. Investors who believe him could buy here. But we haven’t bought back any shares yet. “The question is, will the stock bottom before the gaming cycle bottoms?” said Jeff Marks, director of portfolio analysis for the club. There are also two club names with exciting events: The CEOs of Marvell (MRVL) and Salesforce (CRM) perform at “Mad Money” Wednesday night. Visit the Investing Club homepage for exclusive insight into these chats. Qualcomm (QCOM) is hosting its Automotive Investor Day on Thursday. We’ve heard that the company could disclose some of its relationships unknown to those outside the company — and we suspect the announcements could lead investors to realize that the stock is too cheap. (Jim Cramer’s Charitable Trust is a long-standing AAPL, ABBV, CSCO, NVDA, QCOM, MRVL, CRM. For a full list of stocks click here.) As a CNBC Investing Club subscriber 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 any stock in his charitable foundation’s portfolio. When Jim spoke about a stock on CNBC television, he waits 72 hours after the trade alert is issued before executing the trade. THE ABOVE INVESTMENT CLUB INFORMATION IS GOVERNED BY OUR TERMS AND CONDITIONS AND PRIVACY POLICY ALONG WITH OUR DISCLAIMER. NO OBLIGATION OR OBLIGATION SHALL BE OR CREATED BY YOUR RECEIVING OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC RESULT OR PROFIT IS GUARANTEED.
Three takeaways from Wednesday’s “morning session” – Fed and corporates with pricing energy
