Every weekday, the CNBC Investing Club with Jim Cramer hosts a “Morning Meeting” livestream at 10:20 a.m. ET. Here's a recap of Wednesday's key moments. 1. US stocks were trending lower as investors awaited important inflation data and mulled more quarterly earnings. The January PCE price index, the Federal Reserve's preferred measure of inflation, will be released on Thursday. Markets are usually sensitive to monthly data. Shares of TJX Companies hit an all-time high on Wednesday thanks to its strong earnings. Management shared a conservative but achievable orientation. Don't sell the stock right here, Jim Cramer said, adding that TJX has been a solid performer in the portfolio. Check your email inboxes and text messages later for our full TJX earnings analysis. 2. Salesforce will release quarterly results after the market closes on Wednesday. Jim warned shareholders of a potential pullback after a series of price target increases from Wall Street. However, he said, the risk of a brief post-earnings decline is not a sufficient reason to sell shares ahead of the release. “Let's not hold the gun to our heads,” Jim said, citing the stock's history of trading lower around the releases and then recovering. Salesforce shares were steady ahead of the release, just a few dollars off their all-time highs. 3. Eli Lilly shares fell 1% on Wednesday after a similar drop in the previous session. Investors continued to try to figure out what the news of a potential competitor to its diabetes and weight loss drug means. Viking Therapeutics added another 14% on Wednesday, a day after soaring 120% on positive updates on its GLP-1 candidate. Jim reiterated that Eli Lilly's stock would be hit much harder if the drug posed a real threat to the Club holding company's offerings. Eli Lilly is much further along in GLP-1 than Viking. (Jim Cramer's Charitable Trust is long CRM, LLY, TJX. See here for a full list of 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 fund'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 INVESTMENT 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 THE RECEIPT OF ANY INFORMATION PROVIDED IN RELATION TO THE INVESTMENT CLUB. NO SPECIFIC RESULTS OR BENEFITS ARE GUARANTEED.
