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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 Thursday’s key moments. December CPI lifts stocks, optimism about the Fed Nelson Peltz’s track record speaks for itself Expectations for Wells Fargo’s upcoming earnings 1. December CPI is good news The Dow was up on Thursday after a report that December consumer prices fell 0.1% in December, in line with expectations. Overall, the data is positive for the market as it shows inflation is cooling. More analysts now expect a quarter percentage point interest rate hike from the Federal Reserve in February, suggesting that the tides could be turning in the central bank’s fight against inflation. 2. Nelson Peltz’s track record speaks for itself Disney (DIS) faces a proxy fight as Nelson Peltz’s activist firm Trian Fund Management vies for a seat on its board. Trian’s issues with the entertainment giant include what it views as poor corporate governance, a questionable streaming strategy and its struggling stock price. Peltz on Thursday’s “Squawk on the Street” indicated that the fund seeks more accountability, cuts to corporate spending and a plan to fix the balance sheet. While Peltz does not have experience in media, his expertise is in consumer brands, with successful stints on the boards of Procter & Gamble (PG), H.J. Heinz, now Kraft Heinz (KHC) after a 2015 merger with Kraft Foods, and Wendy’s (WEN). Because Disney is ultimately a consumer brands company, we are worried about his resume. 3. What to look for in Wells Fargo’s earnings Wells Fargo (WFC) reports fiscal fourth-quarter earnings before the opening bell on Friday. The bank is the best of the financial group, but we will be looking to see if it has seen any loan losses in its most recent quarter. Also noteworthy is that Wells Fargo’s restructuring plan gives it the unique opportunity to lower expenses during a time when its competitors are struggling with rising costs. As a result, we hope to see Wells Fargo guiding lower expenses for 2023 compared to 2022. (Jim Cramer’s Charitable Trust is long DIS, PG, WFC. 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.
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