Every weekday, the CNBC Investing Club with Jim Cramer conducts a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s an overview of the key moments from Wednesday’s meeting.
The S&P 500 and Nasdaq achieved record intra-day highs on Wednesday, buoyed by the strength in significant technology stocks, particularly Nvidia, a holding of the club. Jim Cramer noted that while markets were up, the rise was uneven, with not all stocks participating in the rally. Investors are currently anticipating the Federal Reserve’s upcoming rate decision, with expectations for another quarter-point rate cut. Additionally, Boeing, another club holding, reported mixed quarterly results, with management highlighting positive free cash flow for the first time since 2023. Other portfolio holdings, including Meta, Microsoft, and Starbucks, are set to release their quarterly earnings later in the day.
In a historic milestone, Nvidia became the first U.S. company to reach a $5 trillion valuation following its impressive performance at its annual GTC conference. CEO Jensen Huang announced that Nvidia has $500 billion in cumulative data center visibility for 2025 and 2026, surpassing Wall Street’s estimates of $447 billion according to Goldman Sachs. Furthermore, trade discussions between President Donald Trump and Chinese President Xi Jinping are expected to continue on Thursday, with Nvidia’s Blackwell chips being a focal point. Cramer suggested that this might signal a significant policy shift within the White House, potentially allowing the expedited sale of Nvidia chips in China, which would mark another substantial win for the company.
On the earnings front, Corning’s shares experienced a bounce of over 5% on Wednesday, recovering from the losses incurred after its earnings report on Tuesday. Cramer believed the stock had been unfairly punished as investors took profits despite a solid financial quarter. He took advantage of the dip to purchase additional shares in the specialty glass maker, expressing optimism about future gains, especially in light of Corning’s role in the AI infrastructure buildout, given its production of fiber optic cables for data centers.
As part of the session’s conclusion, various stocks were briefly reviewed, including Caterpillar, CVS, GE Healthcare Technologies, Verizon, and Brinker International. Subscribers to the CNBC Investing Club receive advance trade alerts before actions are taken in the charitable trust’s portfolio. Cramer implements a waiting period of 45 minutes after sending a trade alert before executing any trades and observes a 72-hour waiting period for stocks he discusses on CNBC TV.
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