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. Wall Street soared Wednesday on Donald Trump winning the presidential election. The Dow was leading the way higher in a broad-based rally, surging more than 3% to an all-time high. Bond yields were also higher as money moved into stocks but also on concern that Trump’s policies could be inflationary. Jim Cramer said that Wednesday belongs to the stock market but Thursday will belong to the bond market. He cautioned that a continued rise in bond yields may come home to roost for stocks that are especially sensitive to interest rates. The Fed is expected to cut rates by another 25 basis points Thursday afternoon at the end of its two-day November meeting. The financial sector was, by far, the big winner in the market Wednesday. Club stocks Wells Fargo and Morgan Stanley soared 14% and 11%, respectively. These stocks were already on a roll, so shortly after the opening bell, we trimmed these positions and booked some healthy profits. We’re still believers in banks — and even more so under an upcoming Trump administration. Shares of BlackRock , the world’s biggest asset manager, dipped Wednesday, bucking the rally in financials. Jim has wanted to own more shares of BlackRock and Wednesday decided to buy some more. Club stock Nvidia rose about 3% Wednesday to an all-time high above $144 per share. Jim said Trump’s presidency won’t hurt Nvidia’s relationship with Taiwan Semiconductor Manufacturing Company , which manufactures its industry-leading artificial intelligence chips. Trump will want to champion Nvidia, Jim said, stressing it’s an American success story and it makes too much money. Don’t sell Nvidia stock just because TSMC shares were lower, Jim said, downplaying complications that might arise from Trump’s China policy. (See here for a full list of the stocks in Jim Cramer’s Charitable Trust.) 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.
