Jim Cramer’s CNBC Investment Club hosts a “Morning Meeting” livestream every weekday at 10:20 a.m. ET. A recap of Wednesday’s key moments. 1. Stocks fell on Wednesday after President Donald Trump said the ceasefire with Iran was effectively “over” and suggested the United States could launch another military strike. West Texas Intermediate crude rose 7% to more than $75 a barrel. Rising oil prices weighed not only on consumer stocks and banks, but also on airlines and related companies. Among the clubs, Boeing fell 3.5%, Home Depot fell 3% and Goldman Sachs fell about 2.5%. Jim called on investors to remain disciplined as geopolitical headlines continue to drive daily trading. “We don’t want to give up big gains,” he said, noting how a sudden change in White House rhetoric could quickly reverse market sentiment. 2. Broadcom shares rose 3.5% after Apple filled in details about expanding its partnership with the chipmaker in a multi-year deal expected to exceed $30 billion. This partnership will result in more than 15 billion American-made chips and support hundreds of American manufacturing jobs. Jim said the announcement further confirms the strategic relationship between Broadcom and Apple, but stressed that investors should not treat this as new information. That’s because Broadcom revealed the outline of the deal expansion on Monday, and its stock rose 3.7% that day. Given Broadcom’s strong management, Jim urged investors not to get greedy. “We can’t be complacent even with the big advances we’ve made with Arm and Broadcom,” he said. We exited the arm position immediately after the morning session to protect our profits in this headline-driven market. 3. Wells Fargo upgraded Old Dominion Freight Line, arguing that the recent decline in sub-truckload marine inventories created an attractive entry point. Jim said the call should also be taken positively by clubs that own FedEx Freight. Despite falling 25% from its June 9 high, eight days after being spun off from FedEx, this remains one of his favorite long-term turnaround stories. “I’m a buyer of FedEx Freight,” Jim said, describing the company as a “self-help story” that was suppressed while operating within FedEx. “You’re buying this because of misinformation about the situation,” he argued, adding that FedEx Freight stock investors should view as a long-term position rather than a short-term trade. 4. The stocks featured at the end of Wednesday’s video are Estée Lauder, Dollar Tree, Wynn Resorts, and HCA Holdings. (Jim Cramer’s charitable trusts are long AAPL, ARM, AVGO, FDX, FDXF, HD. See here for a complete list of stocks.) As a subscriber to Jim Cramer’s CNBC Investment Club, you will receive trade alerts before Jim makes a trade. After Jim sends a trade alert, he waits 45 minutes before buying or selling stocks in his charitable trust’s portfolio. If Jim talks about a stock on CNBC TV, he will issue a trade alert and then wait 72 hours before executing the trade. The above investment club information is subject to our Terms of Use and Privacy Policy, along with our disclaimer. No fiduciary duties or obligations exist or arise from your receipt of information provided in connection with the Investment Club. No specific results or benefits are guaranteed.
