Every weekday the CNBC with Jim Cramer holds a "Morning Meeting" at 10:20 a.m. ET. Here's a recap of Wednesday's key moments. 1.
The S & P 500 and Nasdaq hit intraday all-time highs for the second straight session, but have come off the boil a bit.
Both indexes with record-high closes Tuesday after cooler-than-expected consumer inflation data put a near lock on a Federal Reserve interest rate cut next month, with increasing odds of additional cuts in October and December.
"I am concerned that things are too exuberant," Jim Cramer said during the Morning Meeting, ahead of Thursday's Monthly Meeting for members at noon ET.
Health-care, consumer discretionary, and financial stocks were leading Wednesday's market higher. Our newest stock, Cisco Systems , reports earnings after Wednesday's closing bell. 2.
Nvidia s fell nearly 2% — catching some selling pressure on the post-earnings decline of CoreWeave , which rents Nvidia chips for AI workloads.
Piper Sandler, however, raised its price target on stock Nvidia to $225 per from $180 and kept its overweight buy rating.
The analysts see upside to the quarter and outlook due to recent positive ary from U.S. hyperscalers and the inclusion of revenue from China.
There have been reports whether customers there are buying the China-specific chip that was allowed back on the market.
"They are buying it mad," Jim said, adding he has that news on good authority from someone close to the situation. 3.
Amazon on Wednesday announced that it launched same-day dery of meat, eggs, and duce in more than 1,000 cities and towns in the U.S.
The service is expected to expand to at least 2,300 localities by the end of the year. "Once again, the bargain of Prime is so incredible," Jim said.
s of grocery chains Kroger and Albertsons were down more than 4% and 2.5%, respectively. name Costco was down roughly 1%.
But Jim said Costco shouldn't be down because it doesn't compete with Amazon on dery. Costco is a "price , a volume ," he explained. 4.
Stocks covered in Wednesday's rapid fire at the end of the were Cava , Brinker , and CoreWeave .
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