economy
Cramer weighs in on 'hack downgrade' of Starbucks
The Investing Club holds its "Morning Meeting" every weekday at 10:20 a.m. ET.
TL;DR
- Stocks fell on Wednesday due to hot inflation data and rising oil prices.
- Iran's energy facilities were attacked, leading to concerns of retaliatory strikes.
- Jim Cramer believes the market will rebound despite current negative factors.
- Amazon shares dropped amid expectations of increased AI spending impacting cloud computing revenue targets.
- RBC Capital downgraded Starbucks, a move Cramer labeled a 'hack downgrade'.
- Other stocks discussed included Lululemon Athletica, General Mills, Williams-Sonoma, Constellation Brands, and Disney.