MY NUMBER 1 RECOMMENDATION TO LOSE WEIGHT: CLICK HERE
Every weekday, the CNBC Investing Club with Jim Cramer hosts “The Morning Briefing” live at 10:20 a.m. ET. Here’s a recap of Wednesday’s key moments. The Fed’s decision is coming. Club Earnings Quick Takes 1 Fed Decision Coming Stocks fell on Wednesday ahead of the Federal Reserve’s decision to raise interest rates, expected this afternoon. While markets largely expect another 75 basis point hike, investors are watching for possible signals from the central bank that it could slow the pace of interest rate hikes next month. At the club, we think the Fed is unlikely to significantly change its rate direction until wage and employment inflation moderates. Stocks could rally on dovish Fed rhetoric or fall further on a more dovish statement after the policy meeting. The S & P 500 was down 0.45% in midday trading. 2. Earnings Club Quick Takes Shares of Estee Lauder ( EL ) fell nearly 8% to about $190.6 a share on Wednesday morning after the company cut its earnings outlook for fiscal 2023 due to ongoing Covid-19 restrictions to China, US stockpiles and currency shocks. However, the cosmetics company still beat the top and bottom lines for its fiscal first. We remain bullish on EL and are considering taking advantage of this opportunity to add to our small position in the stock. Humana (HUM) reported a sharp cut in earnings on Wednesday and we see no reason to act on our position. The insurance company is an example of strong, recession-proof healthcare names that investors should have in their portfolios. Shares of Devon Energy ( DVN ) slid more than 7% to about $71.77 a share on Wednesday after the oil and gas producer reported lower-than-expected production in the fourth quarter, along with higher estimates for capital spending. However, we think this is an overreaction by the market, especially given that Devon reported better-than-expected third-quarter earnings and revenue late on Tuesday on the back of strong capital discipline. Although we do not currently plan to trade, we would consider buying more shares if the price falls much lower. Eli Lilly ( LLY ) reported a mixed third quarter before the opening bell on Tuesday, but Club remains incredibly bullish on the stock. Our positive outlook was bolstered by CEO David Ricks’ optimism about the company’s drug production in an interview with Jim Cramer on Tuesday. Jim said he continues to believe that Mounjaro, the company’s type 2 diabetes drug, which is expected to be approved for obesity treatment as early as next year, could be the best drug ever. (Jim Cramer’s charitable fund holds EL, HUM, DVN, LLY debt. See here for a full list of stocks.) As a CNBC Investing Club with Jim Cramer subscriber, you will receive a trade alert before Jim closes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charity’s portfolio. If Jim talked about a stock on CNBC, he waits 72 hours after the trade alert is issued before he executes the trade. THE ABOVE INFORMATION IN THE INVESTING CLUB IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY TOGETHER WITH OUR DISCLAIMER. NO FIDUCIARY OBLIGATION OR DUTY SHALL EXIST OR BE CREATED BY YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO PARTICULAR RESULT OR PROFIT IS GUARANTEED.
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MY NUMBER 1 RECOMMENDATION TO LOSE WEIGHT: CLICK HERE
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