Stocks slip as market awaits Nvidia, Salesforce earnings — here's what we expect
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 stock market is slightly lower ahead of major earnings Wednesday evening. This follows the S & P 500's 2% rally on Tuesday in reaction to President Donald Trump's 50% European Union tariff pause and a better-than-expected consumer confidence report. "People are a little more nervous [today]," said Jim Cramer, pointing out that investors may be taking profits after Tuesday's big move up. The 10-year Treasury is higher but still sitting under 4.5% 2. Nvidia and Salesforce are two big names reporting earnings after the bell. Nvidia CEO Jensen Huang will join "Mad Money" later, when Jim Cramer plans to ask more about trade deals and China. At Salesforce, we're eyeing growth from the company's core business amid fears that CEO Marc Benioff has neglected it to aggressively roll out Agentforce, its platform of autonomous AI agents that isn't expected to contribute material revenue for a while. "That's a problem. It better start producing revenue," said Jim, adding that the company's other big deals should be bringing in cash too. 3. Broadcom's price target was raised to $283 from $198 at Melius Research, which said stock still has room for growth as its number of custom AI accelerator customers more than doubled (to 7 from 3). Analysts also pointed out that the spending of two of its largest customers, Alphabet and Meta Platforms , hasn't slowed down. Melius kept its buy rating on the stock. The Club used Tuesday's rally to trim 50 shares of Broadcom and downgraded our rating to a 2, meaning we would buy more shares on a pullback. 4. Stocks covered in Wednesday's rapid fire at the end of the video were: Okta , Macy's , Abercombie & Fitch , and Dick's Sporting Goods (Jim Cramer's Charitable Trust is long AVGO, CRM, NVDA. 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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