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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. Stocks rallied Wednesday following a decisive Democratic victory in the midterms. The election itself —regardless of which party fared best — had been a source of uncertainty on Wall Street. That has now been removed. Jim said that investors are betting that Democratic control of both the House and Senate could slow the AI data center buildout — terrible for the neoclouds but potentially a benefit to the well-established hyperscalers, because the result will force them to curb capital spending and let cash flow catch up. That prospect helped lift shares of Amazon , Alphabet , Meta and Microsoft , while weighing on semiconductor stocks and smaller cloud providers that depend on continued infrastructure investment. Micron slipped 6%, while CoreWeave dropped 9%. 2. Capital One slipped nearly 3% Wednesday despite a broader rally in financial stocks, as investors weighed the possibility that Democrats could renew efforts to cap credit card interest rates following their midterm victories. Jim dismissed the likelihood that such a proposal would become law, noting that previous attempts have not resulted in anything material. He said the sell-off has created an opportunity, though he cautioned against rushing in before the market settles. “I’m not saying go in right now. I am saying that COF is to be bought if you don’t own any,” Jim said. 3. Cardinal Health and Kimberly-Clark both report earnings Thursday morning. Cardinal’s results follow a better-than-expected quarter from rival drug distributor Cencora , although its earnings outlook fell slightly short of Wall Street estimates. Jim remains bullish on Cardinal’s business but cautioned that the stock can be volatile around earnings. Kimberly-Clark, meanwhile, preannounced better-than-feared results on Monday and completed its acquisition of Kenvue . Jim sees the deal as an opportunity to strengthen the consumer products company’s longer-term prospects. Both stocks have also benefited from the broader rotation into defensive sectors. 4. Stocks covered in Wednesday’s rapid fire at the end of the video were: CVS , McDonald’s , and Uber . (Jim Cramer’s Charitable Trust is long AMZN, GOOGL, META, MSFT, MU, COF, CAH, KMB. 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.
