Jim Cramer looks at why Big Tech keeps going up, sees 2 drug stocks as buys on weakness

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 rebounded Wednesday following weaker sessions to start the week. The Nasdaq led the way, jumping more than 1.5% and trading above 20,000 for the first time ever. Alphabet stock extended strong gains for the second consecutive day.

Shares of Eli Lilly slipped Wednesday despite news the drugmaker is teaming up with privately held telehealth company Ro to start offering single-dose vials of Lilly's weight loss treatment Zepound. The partnership, which should make it easier to get access to the medication, is in line with management's commentary on its third-quarter earnings call regarding plans to increase marketing efforts.

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