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. Oil, bonds weigh on stocks Watch Constellation Brands Oracle on deck 1. Higher oil prices, bond yields weigh on stocks Stocks fell Wednesday morning, with the market on track for back-to-back days of declines. The S & P 500 was down 0.68%, while the Nasdaq Composite lost roughly 0.9%. Meanwhile, bond yields climbed higher, with that that of the 10-year Treasury at nearly 4.3%, as oil prices remained supported by Saudi Arabia’s decision Tuesday to extend production cuts by 1 million barrels a day. West Texas Intermediate crude, the U.S. oil benchmark, was hovering just under $87 a barrel. As Jim Cramer tweeted earlier Wednesday: “It’s September, do not trust any [stock] rally unless the yield on the 10 year drops and oil loses at least $3.” Higher oil prices are starting to impact corporate earnings, with major U.S. airlines like Southwest Airlines (LUV) warning about a spike in fuel costs . 2. Watch Constellation Brands TD Cowen on Wednesday upgraded Club holding Constellation Brands (STZ) to outperform, from market perform, while raising its price target on the stock to $300 a share, up from $240. Cowen points out accelerating beer growth, which should support the Modelo beer maker’s margin outlook. The firm also notes Constellation’s portfolio optionality, arguing it could sell its wine and spirits businesses to boost stock buybacks and its expand its multiple. Shares of Constellation Brands were trading up 0.62% Wednesday morning, at roughly $259 apiece. 3. Oracle on deck More analysts are writing positive checks ahead of Club holding Oracle ‘s (ORCL) quarterly results on Sept. 11. Guggenheim said it expects cloud revenue at the high end of guidance, supported by partner checks, while reiterating the software firm as a “best idea.” Mizuho said it expects a strong quarter and believes the the company’s Sept. 21…
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