During Wednesday’s Morning Meeting livestream, the CNBC Investing Club with Jim Cramer discussed the upcoming remarks by Fed chief Jerome Powell. Powell is expected to deliver a press conference at 2:30 pm ET, where traders will be looking for clues on future interest rate cuts. Jim Cramer highlighted the importance of Powell’s ability to address the underlying weaknesses in the economy, despite recent strong data points.
Following Wednesday’s quarterly earnings reports, Dupont De Nemours stock surged more than 8%, showcasing positive signs of recovery in the company’s semiconductor business. Jim Cramer expressed optimism about the company’s performance under CEO Ed Breen’s leadership. On the other hand, Estee Lauder saw a decline of more than 10% despite solid third-quarter numbers. Investors were spooked by the company’s current-quarter outlook and revised organic sales forecast.
Amazon reported fantastic quarterly results, but the stock saw muted gains on Wednesday due to management’s slightly light guidance for the current quarter. Jim Cramer remains bullish on the tech giant, believing that the outlook provided by management may be conservative. He emphasized the importance of focusing on Amazon’s growth trajectory and the company’s ability to deliver results ahead of expectations.
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The Wednesday Morning Meeting covered key events such as Jerome Powell’s remarks, the performance of Dupont De Nemours and Estee Lauder stocks, Amazon’s quarterly results, and the trading alerts provided by the CNBC Investing Club. Jim Cramer’s insights and analysis provide valuable information for investors looking to navigate the ever-changing stock market landscape. It is crucial for subscribers to be aware of the club’s protocols and disclaimer when making investment decisions.
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