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. U.S. stocks edged higher Wednesday as Wall Street attempted to shake off its lackluster start to the second quarter. Markets digested better-than-expected labor data from payrolls processing firm, ADP, which revealed a strong hiring pickup for March. The 10-year Treasury yield rose on the release and briefly touched its highest level since November. But rates came off those highs after the latest ISM non-manufacturing reading came in slightly weaker than expected for March. During the Club’s Morning Meeting, Jim Cramer said he’s monitoring the potential impact of the massive earthquake in Taiwan on semiconductor production there. Eaton was added to Deutsche Bank’s “Catalyst Call Buy List,” with analysts forecasting a material first-quarter earnings beat when the industrial name posts results later this month. The Wall Street analysts expect quarter-over-quarter improvements in Eaton’s electrical orders, along with bullish commentary from management on market demand. Shares hit a new all-time high Wednesday. Jim Cramer called Eaton the “most megatrend big cap story there is,” citing positives for the company from industrialization and artificial intelligence. Barclays upgraded the stock Tuesday. Procter & Gamble on Wednesday tumbled more than 2.5% on signs of industrywide weakness in cosmetics. Concerns were sparked by negative remarks from Ulta Beauty at a JPMorgan retail conference. Shares of Ulta were getting crushed, down more than 13% on the session. While that weakness was rubbing off on peers, Jim sees the dip in P & G as an opportunity. “Procter is a buy here,” he said. “Their beauty business isn’t relevant in this discussion.” It is worth mentioning that cosmetics industry pressure was knocking shares of Club name Estee Lauder down nearly 4%. Our commentary on Estee Lauder on Tuesday was cautious . (Jim Cramer’s Charitable Trust is long PG, ETN, EL. 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.
