Jim Cramer's CNBC Investing Club held its Morning Meeting livestream on Wednesday, where stocks fell after President Donald Trump declared the Iran ceasefire effectively 'over' and suggested potential additional U.S. military strikes. West Texas Intermediate crude climbed 7% to over $75 per barrel, weighing on airlines, consumer stocks, and banks, with Club holdings Boeing dropping 3.5%, Home Depot sliding 3%, and Goldman Sachs losing roughly 2.5%. The session highlighted Broadcom's 3.5% jump following Apple's announcement of a multiyear chip partnership exceeding $30 billion, and featured Cramer's endorsement of FedEx Freight as a long-term buy despite its 25% decline from its June 9 high. Cramer urged investors to remain disciplined amid headline-driven market swings, noting how sudden changes in White House rhetoric can quickly reverse sentiment.
Trump Iran Ceasefire Comments Drive Wednesday Stock Decline
Stocks fell Wednesday after President Donald Trump said the ceasefire with Iran was effectively 'over' and suggested the U.S. could launch additional military strikes. West Texas Intermediate crude climbed 7% to over $75 per barrel. The oil spike weighed on airlines and companies tied to them, as well as consumer stocks and banks. For the CNBC Investing Club portfolio, Boeing fell 3.5%, Home Depot slid 3%, and Goldman Sachs lost roughly 2.5%. Jim Cramer told investors to stay disciplined despite geopolitical headlines driving day-to-day trading. 'I don't want to give up big gains,' he said, pointing out how sudden changes in White House rhetoric can quickly reverse market sentiment.
Apple Announces $30 Billion Broadcom Chip Partnership
Broadcom shares jumped 3.5% after Apple filled in details about its expanding partnership with the chipmaker in a multiyear agreement expected to exceed $30 billion. The deal will result in more than 15 billion U.S.-made chips and support hundreds of U.S. manufacturing jobs. Jim Cramer said the announcement further validates Broadcom's strategic relationship with Apple, but stressed that investors should not treat it as new information. Broadcom disclosed the bones of the deal expansion Monday, and the stock jumped 3.7% that day. Given Broadcom's powerful run, Cramer urged investors not to become greedy. 'If we get big moves up in an Arm or a Broadcom, we can't be complacent,' he said. The CNBC Investing Club exited its position in Arm shortly after the Morning Meeting to protect gains in the headline-driven market.
Jim Cramer Calls FedEx Freight Long-Term Buy After 25% Pullback
Wells Fargo upgraded Old Dominion Freight Line, arguing that the recent pullback in less-than-truckload shipping stocks has created an attractive entry point. Jim Cramer said the call should also be viewed positively for Club holding FedEx Freight. The stock remains one of his favorite long-term turnaround stories despite falling 25% from its June 9 high, eight days after it was spun off from FedEx. 'I'm a buyer of FedEx Freight,' Cramer said, describing the company as a 'self-help story' that was held back while it operated inside FedEx. 'You buy this because of the misinformation about the situation,' he argued, adding that FedEx Freight is a stock investors should view as a long-term position rather than a short-term trade. Wednesday's rapid fire segment also covered Estee Lauder, Dollar Tree, Wynn Resorts, and HCA Holdings.
FAQ
What did Jim Cramer say about FedEx Freight on Wednesday?
Jim Cramer called FedEx Freight a 'self-help story' and said 'I'm a buyer of FedEx Freight' despite the stock falling 25% from its June 9 high. He described it as a long-term position held back while operating inside FedEx, and urged investors to view it as a long-term turnaround rather than a short-term trade.
Why did stocks fall during Jim Cramer's Wednesday Morning Meeting?
Stocks fell Wednesday after President Donald Trump said the Iran ceasefire was effectively 'over' and suggested the U.S. could launch additional military strikes. West Texas Intermediate crude climbed 7% to over $75 per barrel, weighing on airlines, consumer stocks, and banks. Club holdings Boeing fell 3.5%, Home Depot slid 3%, and Goldman Sachs lost roughly 2.5%.
What partnership did Apple announce with Broadcom?
Apple filled in details about its expanding partnership with Broadcom in a multiyear agreement expected to exceed $30 billion. The deal will result in more than 15 billion U.S.-made chips and support hundreds of U.S. manufacturing jobs. Broadcom shares jumped 3.5% following the announcement.
