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. Stocks retreat Morgan Stanley reports Stick with Apple 1. Stocks retreat Stocks fell during midmorning trading Wednesday, with the S & P 500 down around 0.25%. Meanwhile, higher-than-expected inflation in the UK — the country’s consumer price index rose by 10.1% in March — pushed Treasury yields higher. The U.S. dollar also edged up, putting further pressure on equities. Oil prices tumbled, with West Texas Intermediate crude losing more than 1.6%, to hover just below the $80 a barrel mark. 2. Morgan Stanley reports Club holding Morgan Stanley (MS) reported first-quarter results Wednesday, delivering a beat on earnings and revenue. But despite edging out analysts’ forecasts, shares of Morgan Stanley fell, as investors focused on the bank’s rising expenses and declining revenue. Net interest income also came in below guidance. But we’re continuing to stick with the stock, in no small part because of its strong wealth management operations, which continue to attract billions of new assets every quarter. Look out for more Club analysis on Morgan Stanley’s earnings later today. Shares of MS were down 0.51% Wednesday morning, at $89.39 apiece. 3. Stick with Apple JPMorgan on Wednesday raised its price target on Club holding Apple (AAPL) to $190 per share, from $175, predicting the iPhone maker will deliver an earnings beat for the quarter ended in March. But JPMorgan analysts expect Apple’s revenue to slow by June, a result of weaker sales of iPhones, MacBooks and wearables. We remain bullish on Apple and stick with our ‘own it, don’t trade it’ mantra — a view only bolstered by the company’s expansion in India . Shares of Apple were trading up 0.64% Wednesday, at $167.54 apiece. ( Jim Cramer’s Charitable Trust is long MS, AAPL. 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.
