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. Wall Street was back in rollback mode Wednesday, one day after the market tried and failed to shake off losses. The 2023 winners were continuing to give back some of their outsized gains — especially the Magnificent Seven stocks, which were dragging the Nasdaq down by roughly 1%. “All parabolic moves end badly,” Jim Cramer said Wednesday. But when the dust settles, you start looking for things to buy. Jim said he thinks oil will hold around $70 per barrel, adding he’s not sure why natural gas was selling off when it’s so cold around the U.S. If Europe gets cold, he said, that’s when nat gas can take off. 2. Morgan Stanley was on a six-session losing streak, including Wednesday’s decline. The Club name reported a pretty decent quarter. “The company is very cavalier. They think the numbers are good and you buy the stock,” Jim said. “What matters is expectations. The expectations were much higher.” Morgan Stanley shares sank more than 4% on Tuesday after comments on the post-earnings conference call about wealth management margin consolidation. There’s an argument that this was Ted Pick’s first call as CEO and the targets were laid out by his predecessor, James Gorman. So this was, perhaps, a reset and the company could make, if not beat, expectations in the future. Morgan Stanley cannot be complacent here, Jim added. 3. Disney is another company that investors, like us, want to see make more money. Shares were down more than 1.5%, giving up nearly half of Tuesday’s gains. Disney rejected activist investor Nelson Peltz’s board nominations. The company, as expected, nominated Gorman, the former Morgan Stanley CEO, to the board. “Maybe they need Nelson Peltz in there,” Jim said, adding that the major shareholder tends to do good things for investors and the company when he’s in the room. We should expect this…
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