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. U.S. stocks are little changed Wednesday as Wall Street awaits Nvidia’s highly anticipated earnings report after the closing bell. Some investors believe the leading artificial intelligence chip maker’s forthcoming results will determine where AI rally will go next. But Jim Cramer said there’s more to the market than just Nvidia. “Everybody is talking about one stock and it’s Nvidia, but there are 499 others that I think are worth talking about,” Jim contended. As an example, he pointed to Club holding TJX Companies’ earnings beat, which signals that the U.S. consumer is still looking for bargains in the current economic landscape. Shares of TJX are up nearly 6% Wednesday. We’ll have our full look at the report out later in the day. Health-care analysts at Citigroup added GE Healthcare to their so-called top pick list Wednesday, as shares of the medical equipment maker bounce back from their earnings sell-off on April 30 . The stock is down about 1% Wednesday, but up around 6% since the dust settled on earnings. “Amen. It’s been exhausting,” Jim said in response to Citi’s upbeat call. Jim said he’s tempted to buy more GE Healthcare shares, but recognizes that another purchase at these levels wouldn’t help the Club’s cost basis of $75.92. Plus, we recently added to our GE Healthcare position on May 8. Citi also lowered its price target on Abbott Laboratories to $119 a share from $128, citing concerns about its baby formula litigation . Jim acknowledged that shares are facing a headwind. “We’re going to have to deal with this overhang,” he said. “We know it’s going to be there.” However, Abbott’s offering has been widely approved by medical professionals as life saving nutrition. (Jim Cramer’s Charitable Trust is long GEHC, ABT, TJX, 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.
Citi elevates GE Healthcare to a top pick. Here’s why we’re not buying more shares just yet
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