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. 1. The S & P 500 drifted lower Wednesday as Wall Street balanced key consumer inflation data against the ongoing U.S.-Iran war and volatile oil prices. The February consumer price index report matched expectations . The market, however, was more concerned about the next CPI print because the war-driven surge in energy prices aren't captured in the February data. Investors got some relief after the International Energy Agency said its member countries plan to release 400 million barrels of oil from reserves to address any supply disruptions. Nevertheless, oil prices rose Wednesday. Both developments come as the stock market moved into oversold territory, according to the S & P Short Range Oscillator, which is Jim's trusted momentum indicator. We like to deploy cash whenever it flashes oversold. "We're looking at things that are down very badly that we think we can buy," Jim said. Case in point: We bought some more Procter & Gamble on Wednesday. 2. CrowdStrike shares are up roughly 1% in the morning, but Jim said the stock should be trading way higher due to the growing chatter about AI agents and potential security breaches . In particular, an open-source AI agent called OpenClaw is in the headlines, with The Wall Street Journal reporting on its popularity in China . Jim said he feels CrowdStrike has the right technology to provide agentic security, noting the company has been acquisitive in that area. "CrowdStrike should be up far more than it is right now, far more," Jim said. "They are the only ones that have it. I would pay up $20 for this." 3. Wolfe Research hiked its price target on Eli Lilly to $1,325 from $1,250, implying roughly 32% upside from Tuesday's close. Analysts, who kept a buy-equivalent rating on shares, raised their long-term sales forecasts on orforglipron, the company's GLP-1 pill that could soon be approved by the FDA. Despite the note's bullish tone, Jim said he's not surprised investors are looking past it Wednesday considering the Strait of Hormuz uncertainty and the worrisome inflation conversation. Lilly shares are down less than 1%. "I knew it wouldn't work," he said. But on substance, we agree with Wolfe that the opportunity for Lilly's pill is massive. Thankfully, Lilly is ready to meet the demand. "The factories will be ready, which is the most important thing," Jim said, noting how rival Novo Nordisk's supply shortages for its injectable GLP-1 Wegovy allowed Lilly's Zepbound to steal market share. 4. Stocks covered in Wednesday's rapid fire at the end of the video were: Campbell's, Cintas , CarMax and J.M. Smucker. (Jim Cramer's Charitable Trust is long CRWD, LLY, PG. 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.
