Jim Cramer's Investing Club meeting Wednesday: Fed meeting, AMD, Meta

Published Wed, Feb 1 202312:01 PM EST

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. Don't trade on Fed meeting Stick with AMD Watch Meta earnings 1. Don't trade on Fed meeting Stocks fell Wednesday as the Federal Reserve wraps up its latest meeting, which is largely expected to conclude with a 25-basis point interest rate hike . The S & P 500 was down 0.3% in late-morning trading, while the Dow Jones Industrial Average fell 0.75%. Investors should expect further market volatility throughout the day and refrain from trading around Fed Chair Jerome Powell's speech Wednesday afternoon. Stocks tend to move abruptly when the central bank leader speaks, so it's advisable to wait until the dust settles. 2. Stick with AMD Shares of Advanced Micro Devices (AMD) climbed more than 7.5% Wednesday, to nearly $81 apiece, after the chipmaker reported strong fourth-quarter earnings Tuesday evening. AMD's results significantly outpaced competitor Intel 's (INTC) dismal quarter , as the Club holding continues to nab market share in the semiconductor space. We remain confident in our decision to own AMD and would consider buying more shares if the stock falls. 3. Watch Meta earnings Snap (SNAP) reported a miss on fourth-quarter revenue and global daily active users Tuesday, sending its stock tumbling nearly 13% midmorning Wednesday. The company's disappointing results are a worrying readthrough to ad-based internet firms like Club holding Meta Platforms (META), which reports earnings Wednesday after the close. We'll be watching for signs that Meta plans to cut costs further, after laying off over 11,000 employees last November. Shares of Meta were down 0.17% Wednesday, at $148.72 apiece. (Jim Cramer's Charitable Trust is long AMD, META. 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.