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 Dow Jones Industrial Average hit a new intraday high on Wednesday, extending Tuesday’s gains, as investors look forward to the government’s potential reopening. Financial stocks are leading the way, with J.P. Morgan , American Express , and Club name Goldman Sachs also touching fresh intraday highs. “We like Goldman Sachs at 15 times earnings,” Jim Cramer said. Jim said both Goldman and the Club’s other bank stock, Wells Fargo , will “go higher.” Separately, Jim says he’s “backing away from the year of magical investing,” referencing excessively large debt-driven deals, often with OpenAI at the center. Jim recommends that investors shift their focus to profitable companies. 2. Speaking of high-quality stocks, Advanced Micro Devices is up nearly 9% Wednesday after a bullish financial analyst day on Tuesday, its first since 2022. CEO Lisa Su expects the market for the company’s data center chips to reach $1 trillion by 2030. Jim vouches for Su and thinks that AMD’s stock is very good. “But as you know, we like Nvidia . Own it. Don’t trade it,” he advised. “If it’s good for AMD, it’s great for Nvidia.” 3. Club stock Cisco reports earnings Wednesday after the closing bell. “We trimmed a little Cisco yesterday because we have seen this [stock] get hurt many times from a conservative outlook,” said Jim, who wants to be able to buy the stock if it does indeed get hammered following its report. Meanwhile, Disney reports Thursday before market open. The Club let go of some shares Wednesday morning and downgraded the stock to a 2 rating for the same reason. Bears like to hammer the stock at once, Jim noted. “Then the next thing you know, it’s back to $109, $108, where we have no flexibility to be able to buy it if we haven’t taken some off.” 4. Stocks covered in Wednesday’s rapid fire at the end of the video were: On Holding AG , Chevron , AT & T , Cava , and IBM . (Jim Cramer’s Charitable Trust is long NVDA, CSCO, DIS GS, and WFC. 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.
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