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. U.S. stocks were trending lower as investors awaited important inflation data and mulled over more quarterly earnings. January’s PCE price index – the Federal Reserve’s preferred measure of inflation – is out Thursday. Markets are typically sensitive to the monthly data. TJX Companies stock hit an all-time high Wednesday on strong earnings. Management shared conservative but achievable guidance. Don’t sell the stock right here, Jim Cramer said, adding that TJX has been a solid performer in the portfolio. Check your email inboxes and texts later for our full TJX earnings analysis. 2. Salesforce will post quarterly results after the market closes Wednesday. Jim cautioned shareholders of a potential pullback after a series of Wall Street price target boosts. However, he said, the risk of a brief post-earnings dip is not a good enough reason to sell shares ahead of the release. “Let’s not put the gun to our head,” Jim said, citing the stock’s track record of trading lower around releases and then recovering. Salesforce shares were steady ahead of the print — only a few dollars off their all-time highs. 3. Eli Lilly shares fell 1% on Wednesday following a similar drop in the prior session. Investors continued to try to figure out what news from a potential competitor to its diabetes and weight loss drug means. Viking Therapeutics added another 14% on Wednesday, one day after soaring 120% on positive updates around its GLP-1 candidate. Jim reiterated that Eli Lilly stock would be dinged a lot more if the medicine presented a real threat to the Club holding’s offerings. Eli Lilly is much farther along in GLP-1s than Viking. (Jim Cramer’s Charitable Trust is long CRM, LLY, TJX. 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.
