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. Equities under pressure U.S. stocks fell Tuesday, with the S & P 500 and the Nasdaq Composite both down more than 1% in midmorning trading. The S & P has pulled back roughly 4% this month, a result of higher government-bond yields and a stronger U.S. dollar . The yield on the 10-year Treasury climbed to more than 4.5%. Oil prices were mainly flat, with West Texas Intermediate crude hovering just below $90 a barrel. Meanwhile, the S & P 500 Short Range Oscillator was moving closer to oversold territory. And in this environment, we want to utilize our cash to do some gradual buying into weakness. “I think things are too negative,” Jim Cramer said Tuesday. “That’s my take and I’m not going to back away from it.” 2. Amazon in the news Club name Amazon (AMZN) on Monday said it will invest up to $4 billion in artificial-intelligence firm Anthropic, taking a minority-ownership position in the company. Anthropic rivals AI research laboratory OpenAI, which developed ChatGPT. Anthropic said it plans to run the majority of its workloads on Amazon Web Services, Amazon’s cloud-computing platform, and made a long-term commitment to provide AWS customers around the world with access to future generations of its foundation models via Amazon Bedrock. As a result, generative AI should be an accelerator to AWS revenue growth. 3. Earnings on deck Club holding Costco Wholesale (COST) is set to report quarterly results after the closing bell Tuesday. However, sales are mostly known at this point since Costco reports on a monthly basis. Instead, investors should focus on margins and membership statistics. We’ll also be looking for broader commentary around inflation. Unfortunately, management probably won’t announce a membership-fee hike or special dividend, but those are still two catalysts to look out for. (Jim Cramer’s Charitable Trust is long AMZN, COST. 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.
