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. Equities edge up Stocks were mostly higher in midmorning trading Wednesday, following a selloff Tuesday that saw all three major U.S. indices close more than 1% lower. The market is not technically oversold but is moving closer, with the S & P 500 Short Range Oscillator at minus 3.96% after Tuesday’s declines. The market was supported Wednesday by news that U.S. housing starts climbed 3.9 % in July month-on-month, according to the Commerce Department, well ahead of economists’ expectations. The S & P 500 was up 0.08%, while U.S. Treasuries were mixed ahead of the release of the Federal Reserve’s minutes from its policy meeting last month. 2. Stick with TJX TJX Companies (TJX) delivered a solid second quarter Wednesday, with comparable-store store sales up 6%, well ahead of analysts’ estimates of 3%. The off-price retailer demonstrated growth at all its major operations, including Marmaxx and HomeGoods. The pre-tax margin of 10.4% was up from 9.2% last year. The company also raised its guidance for the full year. TJX is set to hold its earnings conference call at 11:00 a.m. ET, and we’ll follow up shortly thereafter with a detailed analysis. TJX stock soared more than 3% following the release, to above $88 a share. But with the market nearly oversold, Jim Cramer said now is not the time to sell TJX. 3. Watch GE HealthCare Wells Fargo on Wednesday initiated coverage on Club name GE HealthCare Technologies (GEHC) with an overweight, or buy, rating and $90-a-share price target. The firm highlighted GE HealthCare’s opportunity around Alzheimer’s, given its imaging technology is crucial for patients before and during treatment. Wells Fargo predicts double-digit earnings-per-share growth between 2023 and 2025, driven by margin expansion, while noting GE HealthCare’s attractive valuation relative to rival Siemens Healthineers (SMMNY). Shares of GE Healthcare jumped more than 1% Wednesday morning, to around $71 apiece. (Jim Cramer’s Charitable Trust is long TJX, GEHC. 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.
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