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. 1. U.S. stocks are sharply lower on Wednesday after new data showed a shrinking economy in the first quarter of President Trump’s second term, sparking fears of a recession. The sell-off comes on the heels of a six-day winning streak. Both ADP payrolls and gross domestic product data came in weaker than expected. “Obviously the market’s taking this incredibly negative,” said Jim Cramer. A few downbeat earnings are also weighing on the stock market, including a disappointing quarter from Club stock Starbucks . 2. Nvidia took a hit Wednesday, falling more than 3% earlier in the session due to a few negative headlines. For starters, Super Micro preannounced weaker-than-expected quarterly results. However, JP Morgan analysts said they do not believe the results signal “any industry-wide demand slowdown dynamic” and is unrelated to any supply headwinds. In addition, Reuters reported Tuesday that the Trump administration may modify the Biden-era AI diffusion rules aimed at limited global access to chips, slated to start May 15. Those changes could include negotiating deals with individual countries instead of the planned tier system. Analysts at both CitBank and Bernstein worry that the move could put Nvidia at the center of trade deals and negotiations, negatively impacting the company. Jim said the Club’s recent trim of our position in Nvidia was because of “days like today.” 3. Capital expenditure commentary on AI is front and center for the Club when Microsoft and Meta report earnings after the bell. In the case of Microsoft, we’re looking for any commentary about the reported pullback in AI data center spending and how much its Azure cloud unit grew. For Meta, advertising trends will be a key focus. Investors await the latest update on headwinds due in part from a drop-off in ads from Chinese retailers like Shein and Temu. Both reports could impact shares of Nvidia. 4. Stocks covered in Wednesday’s rapid fire at the end of the video were: Catepillar , Visa , and Yum Brands . (Jim Cramer’s Charitable Trust is long META, NVDA, MSFT. 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.
