Every weekday, the CNBC Investing Club with Jim Cramer hosts a live “Morning Meeting” at 10:20 AM ET. Here’s a recap of Wednesday’s key highlights: Watch this 10-year return We view TJX as the long-term winner of Nvidia, Salesforce earnings on deck 1. Watch this 10-year return The US stock indexes are trying to end a three-day losing streak. The high-tech Nasdaq Composite led the way, up about 0.3%, despite the fact that 10-year Treasury yields edged up about six basis points to 3.11%. The basis point is 0.1%. This is notable because overall, rising bond yields are putting pressure on growth stocks, many of which are in the tech sector. Higher interest rates force investors to reconsider what they are willing to pay today for a company’s future cash flows, and the conclusion is usually that they want to pay less, putting pressure on stock prices. Jim Cramer said during the “morning meeting” that the key level he’s watching for 10-year Treasury yields is around 3.5% – about where it peaked in mid-June, around the time the S&P 500 closed low. in 2022. This also coincided with the recent peak in the oil market. “If we can keep and not endure this level [on the 10-year yield]”I think we’re going to race in the stock market,” Kramer said, noting that the club has raised money in recent weeks. “I’m not optimistic, but I think we’re very opportunistic at the moment.” 2. We view TJX as a long-term winner TJX, the parent company of TJ Maxx, Marshalls and HomeGoods, is not on the official Investor Club watch list, known as the bullpen. look at the company lately as retailers like Macy’s keep talking about overstocking. 7, the day before we published our June story, TJX shares rose nearly 5%. The S&P 500, by contrast, fell nearly 1%. “TJ is very interesting. That’s what I’m trying to get across,” Kramer said, referring to how it’s like shopping at TJ Maxx stores, which are filled with discount merchandise that changes frequently, delivering a kind of treasure hunting experience. “It’s exciting. I love it. … Very professional and I just keep thinking about it.” Cramer said he admits TJX’s latest quarter hasn’t been great – beat earnings estimates while earnings and same-store sales are known – but “it’s about ‘The future is that Macy’s has inventory. Target has inventory, Walmart has inventory, Nordstrom has inventory, Urban Outfitters has inventory,” Cramer said, meaning there are plenty of opportunities for TJX shoppers to be in the know. 3. Nvidia and Salesforce earnings on Nvidia (NVDA) and Salesforce (CRM) Club Shelves are due to report earnings after Wednesday’s close. Both quarters earlier this week, Kramer weighed in during the “Morning Meeting”: on chip maker Nvidia: “We love Nvidia… but the problem is they pre-announced and last time they pre-announced they weren’t finished yet.” Cramer said, suggesting that despite the company’s warning earlier in August about the weakness of the games, additional headwinds could arise in the short term. About Salesforce: “We know that Salesforce is very difficult. We have a game with the dollar, which is not good,” Cramer said, referring to the impact of a strong dollar on corporate earnings. (The Jim Cramer Charitable Foundation is a long CRM and NVDA. See full list of stocks here.) As a CNBC Investing Club subscriber with Jim Cramer, you’ll get a deal notice before Jim makes a deal. Jim waits 45 minutes after sending a trade alert before buying or selling shares in his charitable foundation’s portfolio. If Jim was talking about a stock on CNBC, he waits 72 hours after a trade alert is posted before making a trade. THE ABOVE INFORMATION ABOUT INVESTMENT CLUB IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY, TOGETHER WITH OUR DISCLAIMER. NO FIDUCIARY OBLIGATIONS OR OBLIGATIONS ARE OR ARISING IN CONNECTION WITH YOUR RECEIVING ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTMENT CLUB. NO SPECIFIC RESULT OR PROFIT IS GUARANTEED.
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