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. Wall Street was under pressure Tuesday. If the Dow closes lower, the 30-stock average would see its first nine-session losing streak since 1978 when Jimmy Carter was president. “I want you to look for a crescendo. In a crescendo, you have the market go down, down, down, and then the volume explodes. That’s how you get a clearing event to go back up. We have not had that crescendo yet,” Jim said during the Morning Meeting. Keep in mind that the Dow is price-weighted. And, as the highest priced component, UnitedHealth ‘s sharp drop since its insurance unit’s CEO was gunned down on the streets of New York City could be skewing the overall move. There has also been a rotation back into the “Magnificent Seven” stocks, which was why the Nasdaq on Monday posted a record-high close. U.S. oil benchmark West Texas Intermediate crude broke below $70 per barrel on demand concerns. Peter Navarro, set to become the top trade advisor to Donald Trump, said on CNBC on Tuesday that a “drill baby drill” policy will lower oil prices further. Navarro said that any inflation from tariffs proposed by the president-elect could be offset by $50-per-barrel WTI, which would lower the cost of gasoline. Jim said, “[Navarro’s] going to need the oil companies to play ball,” pointing out that energy giants have been reluctant to oversupply the market and watch crude prices sink. We followed through on plans to trim Broadcom when we were no longer restricted and took profits Tuesday. We were not alone as shares of the custom chipmaker dropped more than 4%. “We don’t like to do nothing when we see parabolic” rallies, Jim said. “Let’s talk about the tough one,” he added, referring to Advanced Micro Devices , which we also trimmed Tuesday. After speaking with Marvell CEO Matt Murphy on “Mad Money” on Monday evening, Jim said big tech companies want Nvidia’s AI processors and custom chips made by Broadcom and Marvell, leaving AMD in a difficult position in the market. Jim also commented on Club stock Nvidia’s recent slide. The stock ended Monday’s session down nearly 14% from its all-time intraday high of $152.89 a share on Nov. 21 and was under pressure again Tuesday. “Nvidia has spurts. It does nothing and then it has spurts,” he said. “We choose not to [trim Nvidia]. Why? Because we think the future is bright.” Stocks covered in Tuesday’s rapid fire at the end of the video were: Pfizer , Brown-Forman , Cisco Systems , Planet Fitness , Dell , and Arista Networks . (Jim Cramer’s Charitable Trust is long AVGO, AMD, 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.
A view shows disused oil pump jacks at the Airankol oil field operated by Caspiy Neft in the Atyrau Region, Kazakhstan April 2, 2025.
Pavel Mikheyev | Reuters
U.S. oil prices dropped below $60 a barrel on Sunday on fears President Donald Trump’s global tariffs would push the U.S., and maybe the world, into a recession.
Futures tied to U.S. West Texas intermediate crude fell more than 3% to $59.74 on Sunday night. The move comes after back-to-back 6% declines last week. WTI is now at the lowest since April 2021.
Worries are mounting that tariffs could lead to higher prices for businesses, which could lead to a slowdown in economic activity that would ultimately hurt demand for oil.
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Oil futures, 5 years
The tariffs, which are set to take effect this week, “would likely push the U.S. and possibly global economy into recession this year,” according to JPMorgan. The firm on Thursday raised its odds of a recession this year to 60% following the tariff rollout, up from 40%.
Fueled by incentives from the Illinois EPA and the state’s largest utility company, new EV registrations nearly quadrupled the 12% first-quarter increase in EV registrations nationally – and there are no signs the state is slowing down.
Despite the dramatic slowdown of Tesla’s US deliveries, sales of electric vehicles overall have perked up in recent months, with Illinois’ EV adoption rate well above the Q1 uptick nationally. Crain’s Chicago Business reports that the number of new EVs registered across the state totaled 9,821 January through March, compared with “just” 6,535 EVs registered in the state during the same period in 2024.
At the same time, the state’s largest utility, ComEd, launched a $90 million EV incentive program featuring a new Point of Purchase initiative to deliver instant discounts to qualifying business and public sector customers who make the switch to electric vehicles. That program has driven a surge in Class 3-6 medium duty commercial EVs, which are eligible fro $20-30,000 in utility rebates on top of federal tax credits and other incentives (Class 1-2 EVs are eligible for up to $7,500).
The electric construction equipment experts at XCMG just released a new, 25 ton electric crawler excavator ahead of bauma 2025 – and they have their eye on the global urban construction, mine operations, and logistical material handling markets.
Powered by a high-capacity 400 kWh lithium iron phosphate battery capable of delivering up to 8 hours of continuous operation, the XE215EV electric excavator promises uninterrupted operation at a lower cost of ownership and with even less downtime than its diesel counterparts.
XCMG showed off its latest electric equipment at the December 2024 bauma China, including an updated version of its of its 85-ton autonomous electric mining truck that features a fully cab-less design – meaning there isn’t even a place for an operator to sit, let alone operate. And that’s too bad, because what operator wouldn’t want to experience an electric truck putting down 1070 hp more than 16,000 lb-ft of torque!?
Easy in, easy out
XCMG battery swap crane; via Etrucks New Zealand.
The best part? All of the company’s heavy equipment assets – from excavators to terminal tractors to dump trucks and wheel loaders – all use the same 400 kWh BYD battery packs, Milwaukee tool style. That means an equipment fleet can utilize x number of vehicles with a fraction of the total battery capacity and material needs of other asset brands. That’s not just a smart use of limited materials, it’s a smarter use of energy.