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. The S & P 500 and Nasdaq Composite are extending their runs to record highs on Wednesday, boosted by the cooler-than-expected August producer price index (PPI) and Oracle’s blowout earnings report, which is adding fuel to the AI trade. On the PPI, in particular, Jim Cramer said it’s sparking chatter about the potential for a jumbo half-point rate cut at the Federal Reserve’s meeting next week. Jim said he doesn’t think that will happen, but “it’s creating a nice backdrop for equities.” So, too, is Oracle ‘s earnings report. Shares of the tech giant were up a remarkable 39% on the back of blistering demand for its cloud services. Accordingly, our stocks linked to the buildout of AI data centers jumped, with gas turbine maker GE Vernova up almost 6% and electrical component supplier Eaton up more than 4%. Both stocks are “the right place to be,” Jim said. 2. Our chip names are riding the wave, too, especially Broadcom , which is up 10% on Wednesday alone, basically doubling its post-earnings gains over the prior three sessions. That massive move has the custom AI chip stock at fresh record highs. Meanwhile, Jim predicted that shares of leading AI chipmaker Nvidia are headed back to all-time highs as well. Nvidia is up almost 5% Wednesday to roughly $179 a share, a few bucks below its highest close on record of $183.16 on Aug. 12. Director of Portfolio Analysis Jeff Marks said he’s a little surprised at Broadcom’s outperformance versus Nvidia on the day. 3. Jim was also positive on Club stocks Apple and Danaher . He said the recent pullback in Apple heading into its iPhone launch event on Monday created a solid entry point for new investors. “We don’t trade here. We buy for a long time,” Jim said, emphasizing the importance of long-term investing. On Danaher, he said the company is becoming more positive on the state of play in China, a troubled market for the company. The life sciences firm announced that its board approved a 35 million share repurchase program, equal to almost 5% of shares outstanding. “People should buy Danaher right here. I think the buyback is going to be very aggressive,” he said. 4. Stocks covered in Wednesday’s rapid fire at the end of the video were: Nike , Synopsys , Trade Desk , Chewy , and AeroVironment . (Jim Cramer’s Charitable Trust is long GEV, ETN, NVDA, AVGO, AAPL, and DHR. 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.
