Jim Cramer says this 'self-help story' is a long-term buy after a 25% pullback

An important development from the financial markets: Every weekday, the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a. Here's a recap of Wednesday's key moments. Stocks fell Wednesday after President Donald Trump said the ceasefire with Iran was effectively "over" and suggested the U.

could launch additional military strikes. West Texas Intermediate crude climbed 7% to over $75 per barrel. The oil spike weighed on airlines and companies tied to them, as well as consumer stocks and banks.

Economic Details

For the Club, Boeing fell 3. 5%, Home Depot slid 3%, and Goldman Sachs lost roughly 2. While geopolitical headlines continue to drive day-to-day trading, Jim urged investors to stay disciplined.

"I don't want to give up big gains," he said, pointing out how sudden changes in White House rhetoric can quickly reverse market sentiment. Broadcom shares jumped 3. 5% after Apple filled in details about its expanding partnership with the chipmaker in a multiyear agreement expected to exceed $30 billion.

The deal will result in more than 15 billion U. -made chips and support hundreds of U. Jim said the announcement further validates Broadcom's strategic relationship with Apple, but stressed that investors should not treat it as new information.

Analyst Views

That's because Broadcom disclosed the bones of the deal expansion Monday, and the stock jumped 3. Given Broadcom's powerful run, Jim urged investors not to become greedy. "If we get big moves up in an Arm or a Broadcom, we can't be complacent," he said.

We exited our position in Arm shortly after the Morning Meeting to protect our gains in this headline-driven market. Wells Fargo upgraded Old Dominion Freight Line , arguing that the recent pullback in less-than-truckload shipping stocks has created an attractive entry point. Jim said the call should also be viewed positively for Club holding FedEx Freight .

It remains one of his favorite long-term turnaround stories despite falling 25% from its June 9 high, eight days after it was spun off from FedEx . "I'm a buyer of FedEx Freight," Jim said, describing the company as a "self-help story" that was held back while it operated inside FedEx. "You buy this because of the misinformation about the situation," he argued, adding that FedEx Freight is a stock investors should view as a long-term position rather than a short-term trade.

Economists are analysing what the news means for the markets.