Market Advances Amid Easing Oil Prices; Amazon and Broadcom Stocks Gain

The stock market advanced on Wednesday following a volatile session on Tuesday, which was driven by investor concerns over the escalating U.S.-Iran conflict. The surge in oil prices also eased. Treasury Secretary Scott Bessent told CNBC on Wednesday that "a series of announcements" to support the oil trade were underway. "We may be able to mount a rally of some staying power" as oil prices come down, Jim Cramer said. The narrative of the war: higher oil prices lead to inflation, which limits future Federal Reserve rate cuts and results in a stock sell-off. If that narrative breaks, "you could start seeing some buying now that we're oversold," Cramer said.

Within the portfolio, CrowdStrike posted a remarkable quarter, making the case that AI is an opportunity, not a headwind. CrowdStrike CEO George Kurtz will join "Mad Money" on Wednesday evening.

Amazon shares rose more than 3%, following a Bloomberg report that Anthropic is on pace to generate about $20 billion in annual revenue, up from $9 billion at the end of 2025; Amazon has invested $8 billion in the AI start-up. "This is the breakout" for the stock, Cramer said. Amazon reported a strong quarter in February, but shares plummeted after management revealed a $200 billion capital expenditures plan for this year. "Most people felt that there was no way it [the stock] could stabilize," said Jim. But that's changed as investors become more enthused about Amazon's custom chips, which have helped improve sentiment around the stock. "Now, it's really off to the races."

Broadcom shares gained nearly 2% ahead of earnings after the close. The Club wants to see more than $8 billion in AI revenue for the reported quarter and more than $9 billion projected for the April (current) quarter. Jeff Marks, director of portfolio analysis, said we'll also focus on commentary from Broadcom's AI customers and on deployment ramps (the actual integration of AI technology into data centers). Investors were disappointed by Broadcom's commentary in its previous quarterly report on lower gross margins in the second half of fiscal year 2026. Cramer expects the chipmaker to deliver solid numbers.

Stocks covered in Wednesday's rapid fire at the end of the video were: Ross, Intel, Abercrombie & Fitch, and Brown-Forman.