Every weekday, the CNBC Investment Club will host a live “Morning Meeting” with Jim Cramer at 10:20 a.m. ET. Here’s a look back at Wednesday’s key moments. U.S. stocks were mixed on Wednesday, after the S&P 500 closed at a record high on Tuesday on a rebound in artificial intelligence momentum trading. A day later, technology stocks were the only sector in the red. While rising bond yields are not helping matters, the move is not surprising given the recent uptick in inflation data. On Tuesday, consumer prices for February came in higher than expected. February producer price index will be released on Thursday. GE will swap more of its GE Healthcare equity for debt. A secondary offering was announced late Tuesday, increasing the number of shares issued to 14 million shares. GE last said it would sell shares in its former medical technology unit in February, and GEHC’s stock price rose after the announcement. This time, GEHC fell 4% on Wednesday as shares at elevated levels since last month’s sale may no longer be as attractive to investors. We continue to believe that GE’s sales will help eliminate excess capacity at GEHC, which we view as a beneficiary of an increase in the number of hospitals and demand for artificial intelligence imaging equipment. Bank of America raised Nvidia’s price target to $1,100 per share from $925 ahead of the artificial intelligence chip giant’s annual GTC developer conference. Bank of America analysts cited Nvidia’s strong product pipeline and the stock’s “still compelling” valuation as among the reasons for the rate hike. Lately, Nvidia’s trading has been shaky ahead of GTC. Shares fell nearly 3% on Wednesday. Members may have noticed that the Jim Cramer Charitable Trust’s cash position was much lower on Wednesday. That’s because we send out our annual distribution to charities on Tuesday night. This year’s amount is $157,459, bringing the cumulative total since the trust’s inception to approximately $4.3 million. This trust is the investment portfolio we use for the CNBC Investing Club. (Jim Cramer’s Charitable Trust is a long-term holding of GEHC, NVDA. See here for a full list of stocks.) As a subscriber to Jim Cramer’s CNBC Investing Club, You will receive trade alerts before Jim Cramer trades. Jim waits 45 minutes after sending a trade alert before buying or selling stocks in his charitable trust portfolio. If Jim talked about a stock on CNBC TV, he would wait 72 hours after issuing a trade alert before executing the trade. The investment club information above is subject to our Terms and Conditions and Privacy Policy and our Disclaimer. No fiduciary duty or obligation shall exist or arise upon your receipt of any information relating to the Investment Club. No specific results or profits are guaranteed.
