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 ‘s Wednesday’s key moments. 1. The S & P 500 and Nasdaq were under pressure Wednesday during Day 2 of a nasty market rotation out of some of this year’s top gainers and into value-based stocks and laggards. “What I’ll say about these rotations is that they happen from time to time. They are healthy corrections. I know they feel awful to go through,” said Jeff Marks, director of portfolio analysis for the Club, noting they tend to last about three days. That’s why it’s “too early to do things even though we have cash,” Jeff added. Including Wednesday’s market action, the S & P 500 was on a four-session losing streak, and the Nasdaq was down four out of the past five sessions. Both of them logged record-high closes last week. 2. Many of the portfolio’s Big Tech winners were lower in Wednesday’s market rotation, including Meta Platforms , Microsoft , Broadcom , Nvidia, and CrowdStrike . But it was not all bad news. DuPont was up. “It is very cheap versus peers. We expect that the spin-off of the electronics business Nov. 1 will unlock that value,” Jeff said. Other names making upside moves included Bristol Myers Squibb — the Club is holding onto the stock in advance of more data from trials of schizophrenia drug Cobenfy later this year. Shares of Dover , which have struggled this year, were also higher. 3. Lowe’s announced plans to buy Foundation Building Materials for roughly $8.8 billion. Like Club name Home Depot , Lowe’s wants to beef up its exposure in the pro contracting space. Home Depot acquired SRS last year and agreed to buy GMS back in June. Also on Wednesday, Lowe’s reported better-than-expected quarterly earnings and raised its full-year sales guidance. On Tuesday, Home Depot investors saw past quarterly disappointments and looked forward to a better back half of the year. (Jim Cramer’s Charitable Trust is long AVGO, BMY, CRWD, DD, DOV, HD, GEV, and NVDA. 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.