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 dropped Tuesday after the S & P 500 started the week with a record-high close. Club chip stocks Nvidia and Advanced Micro Devices declined early on a Bloomberg report that the White House could cap exports of their AI chips to countries in the Persian Gulf. We bought more shares of AMD on the dip on Tuesday morning as first promised last week. “This is a very cheap stock versus Nvidia” Jim Cramer said. If you didn’t own these, “this may be your chance,” he added. After the Morning Meeting, disappointing results from a major semiconductor equipment maker piled more pressure on the group. Nvidia closed Monday at a record high. 2. Oil prices were under pressure on reports that Israel won’t target Iran’s oil and nuclear facilities in retaliation for the Oct. 1 missile attack. U.S. benchmark West Texas Intermediate crude fell 5% to around $70 per barrel “We never bought into the idea that oil was going to have a big year,” Jim said. The Club does have a small position in oil and natural gas producer Coterra Energy as a hedge against geopolitical risk. We added to Coterra on Oct. 1 after oil and nat gas jumped that day on the escalating Mideast tensions. 3. Evercore ISI added Alphabet to its “tactical outperform” list late Monday. Analysts said that shares of the Google parent have underperformed heading into third-quarter earnings. Street expectations for search, YouTube, and cloud revenue growth are modest. Out of the mega caps Alphabet is the one Jim still has the “most trouble with.” We trimmed Alphabet on Sept. 25 after the market rose after the Federal Reserve’s jumbo interest rate cut. “If it gets hit and we have room,” Jim said, suggesting we could consider buying. The company is set to report earnings later this month. 4. Stocks covered in Tuesday’s rapid fire at the end of the video were three Dow stocks Johnson & Johnson , UnitedHealth , and Goldman Sachs as well as Bank of America and Walgreens . (Jim Cramer’s Charitable Trust is long CTRA, NVDA, AMD, GOOGL. 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.
