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. The S & P 500 turned lower Tuesday despite a pullback in oil prices and bond yields. The rebound in chip stocks fizzled following Monday’s rally. Jim Cramer said the market was “fraught” during the Morning Meeting, when the index was advancing and chip makers were leading. Jim again cited the flood of new shares coming to market in mega IPOs and hyperscalers’ stock sales. “If we get into this jam where there’s multiple deals announced and deals coming, I think we have to be pulling our horns and be concerned,” Jim said. The SpaceX offering goes public on Friday. 2. Nvidia shares fell 3% to Jim’s disappointment after reports that Taiwan authorities are considering curbing chip sales to China to align more with U.S. restrictions. Jim thought that amid the memory chip shortage, investors would welcome the news as a likely win for Nvidia because of Taiwan’s large role in chip manufacturing. Taiwan imposing restrictions on China would equal more chip production capacity for Nvidia. “It can make more money, which therefore leads to a higher stock price,” Jim said. 3. Home Depot rose over 3% in what Jim called a “serious move” in a troubled stock. If the stock keeps moving higher, Jim said he would trim. “If we get back to where we are so-called even, I would feel better.” We got into Home Depot expecting new Fed Chairman Kevin Warsh to cut interest rates to boost housing activity. That seems unlikely after Friday’s strong jobs report. TJX rose 2.5%. UBS said the company behind T.J. Maxx, Marshalls, and HomeGoods will continue to take market share. The analysts based that view on their annual off-price and department store survey. Jim does not think trimming is a bad move considering recent gains. However, he said his problem with selling TJX for the Club is that it is “the best of the best.” He added: “You should be selling your losers, not your winners.” (Jim Cramer’s Charitable Trust is long NVDA, TJX, and HD. 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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