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. 1. The S & P 500 is little changed on Wednesday after the U.S. government shut down at midnight. There’s concern that a drawn-out closure will impact the economy. But really, “what matters is that interest rates are coming down,” Jim Cramer said. Treasury yields fell on surprising ADP data that showed a 32,000 decline in private sector jobs during September. The shutdown could put Friday’s all-important monthly nonfarm jobs report on hold. Meanwhile, Nike’s strong earnings on Tuesday boosted our confidence in the sports apparel maker’s path back to strength, leading the Club to buy more shares this morning. 2 . Club stock GE Vernova is down roughly 2.5% Wednesday after RBC Capital downgraded shares to a hold from a buy, and lowered its price target to $605 from $631. The firm argued that tailwinds for the turbine maker, including the benefit from strong energy generation and distribution demand, are reflected in its valuation. “I didn’t understand this downgrade at all,” Jim said. Jim said that as companies need more power for the rapidly expanding AI data center buildout, they will turn to GE Vernova. “I like how they are positioned.” 3 . The portfolio’s pharma stocks — Bristol Myers Squibb and Eli Lilly — are rallying off Pfizer’s big win Tuesday. The drugmaker inked a deal with the White House to lower drug costs and invest in stateside manufacturing in exchange for a three-year tariff exemption. Despite the gains in Bristol Myers, Jim is “reluctant” to encourage buying the stock before more updates on Cobenfy, the company’s schizophrenia treatment that launched in the U.S. at the end of 2024. In fact, we trimmed our Bristol Myers position this morning. 4. Stocks covered in Wednesday’s rapid fire at the end of the video were: Marvell Technology , Pfizer ,, United Rentals , Delta Airlines , and Occidental Petroleum Corp (Jim Cramer’s Charitable Trust is long BA, BMY, GEV, LLY, and NKE. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will 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 about a 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.
Friday, February 13
Cramer pushes back on GE Vernova downgrade, bonds matter most in shutdown
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