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 edged lower Wednesday following a three-session losing streak for the S & P 500 . Investor concerns that the Federal Reserve will leave interest rates higher for longer and escalating tensions in the Middle East have increased volatility. Jim Cramer said Wednesday to focus on earnings rather than speculating on the central bank’s next policy move. He stressed that company financials give investors better indications of a stock’s future performance. The S & P 500 Short Range Oscillator is signaling a solidly oversold stock market. When that happens, the Club looks to buy shares of high-quality names at a discount. We put cash to work Wednesday, adding to our position in Abbott Laboratories amid a post-earnings sell-off. This week, the Club also purchased shares of electronics retailer Best Buy on Monday and Tuesday. We added shares of beer maker Constellation Brands and oil and natural gas producer Coterra Energy on Tuesday. Both of our financial names released solid earnings. Morgan Stanley shot up 1.5% on Wednesday. The stock added to prior session gains on largely better-than-expected quarterly results , featuring a big rebound in investment banking, Wells Fargo shares have pretty been flat since its upbeat earnings release last Friday. Still, we like that the bank’s fee-based revenues were strong, and that management seems to be pushing into these kinds of offerings. “This will be the ultimate fee-based bank,” Jim said. (Jim Cramer’s Charitable Trust is long WFC, MS, ABT, BBY, CTRA, STZ. 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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