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. The S & P 500 edged lower Wednesday, on track for its fourth negative session in the past five. Meanwhile, the Nasdaq Composite rose for the second straight day on gains in Big Tech names like Club holdings Apple, Meta Platforms and Amazon . Nvidia shares fell 0.7% after surging 6.8% during Tuesday's session.
We continue to believe an AI-fueled upgrade cycle looms for Apple's flagship device. The results of the Federal Reserve's annual bank stress tests are due out after Wednesday's close. The event is usually a near-term positive for the financial names, including Club holdings Morgan Stanley and Wells Fargo . Since 2021, shares of Wells Fargo have led the pack in the first session after stress-test results are released, Jefferies said in a note dated Monday.
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