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 Tuesday’s key moments. 1. Stocks pulled back Tuesday following Monday’s solid rally, weighed down by Big Tech and retail stocks. The S & P 500 was down 0.4%, while the Nasdaq Composite lost nearly 0.9% in midmorning trading. A slew of earnings reports from retail companies pained a mixed picture. But the market Tuesday zeroed in on disappointing guidance from Lowe’s (LOW), Best Buy (BBY) and Kohl’s (KSS). Meanwhile, bond yields were mainly steady, with that of the 10-year Treasury hovering around 4.4%. And oil prices edged down slightly, with West Texas Intermediate crude holding around $77 a barrel. 2. Investors continued to monitor the fallout over OpenAI’s ouster of Sam Altman, who was pushed out of the top job at the artificial-intelligence start-up late last week. Since then, Altman was appointed to lead a new AI unit at Microsof t (MSFT) — which owns a roughly 49% stake in OpenAI — even as employees at the start-up called for him to be reinstated . Amid all the drama, Salesforce (CRM) CEO Mark Benioff is trying to woo disgruntled OpenAI staff to join the enterprise software company’s AI research division. “A lot of [OpenAI] diaspora could be going to Salesforce,” Jim Cramer said Tuesday. “That could be a terrific thing for Salesforce,” he added. 3. Club holding Nvidia (NVDA) is set to report quarterly results after the closing bell Tuesday. The quarter is important, but the outlook is crucial – how high will Nvidia need to guide to satisfy the market? China remains a key theme amid tightening U.S. export restrictions on sending AI chips to the country. Jim on Tuesday said the crackdown raises a “long-term question about viability.” At the same time, Nvidia stock made a new all-time high Monday, raising the stakes into the print. Stay tuned for a detailed Club analysis of the results Tuesday evening. (Jim Cramer’s Charitable Trust is long MSFT, CRM, 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.
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