Meta stock advances ahead of after-the-bell earnings. What we're looking for

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. Stocks rose Wednesday, with the Nasdaq leading the way higher. Investors rotated back into tech following strong earnings from Elon Musk's SpaceX . Shares of the rocket and AI company surged nearly 11%. During Tuesday night's earnings call, Musk also floated the possibility of a SpaceX- Tesla merger. Shares of Musk's Tesla jumped 3%. The Nasdaq was up more than 1% Wednesday after taking a breather in the prior session. The tech-heavy index gained over 1% on Monday following Friday and last week's nosedive. 2. We trimmed some Broadcom late Tuesday, bringing the position down to a roughly 1% weighting in the Club portfolio. We wanted to lock in more profits and shield ourselves from potential further declines as AI stocks on credit concerns. It is a risk that Broadcom CEO Hock Tan acknowledged last week. During October's Monthly Meeting , Jim Cramer called the chipmaker "problematic," given its exposure to the debt-fueled AI buildout, especially as it relies on customers like Anthropic and OpenAI to secure financing. 3. Meta Platform shares jumped 2.5% going into Wednesday evening's earnings. "We are looking for some answers and some commentary around Muse engagement," Jeff said, referencing Meta's hit artificial intelligence agent, which launched last month. Jeff said that Meta's capital expenditures outlook will be a major focus for investors. "It raises the question: Will Meta issue equity to fund the build-out?" To hedge against the possibility of any negativity about more spending and to protect some big post-Muse gains, we trimmed some Meta last month. (Jim Cramer's Charitable Trust is long GEV, AVGO, ETN, and 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.