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 market rotation out of tech stocks which started Friday and paused Monday, resumed in Tuesday’s session. Mega-cap names Nvidia and Apple fell 2% and 0.17%, respectively. We see the pullback as a chance to possibly add to our positions, or initiate new ones — like we did Monday with our AMD buy . Investors have been moving into names set to benefit from a potential interest rate cut like Stanley Black & Decker , which traded 2.8% higher Tuesday. This trade aligns with the latest June retail sales data released Tuesday which showed increased spending in building materials, garden equipment and supplies. Another large spending category last month was in electronics and appliances — a positive for electronics retailer Best Buy . 2. Morgan Stanley delivered top and bottom line beats in its second-quarter earnings before the bell. The results reflected the largest earnings and revenue beat of the big six banks, and the best capital markets activity. But its wealth management division came in weaker than expected. The stock was down 2% in premarket trading but has since rebounded as is up about 2%. Cramer said Morgan Stanley CEO Ted Pick’s comments on the bank’s bright future is what turned the stock around. 3. Shares of coffee giant Starbucks traded 1% higher, despite catching a downgrade from Evercore ISI. Analysts took the stock to a hold on expectations of more weakness in U.S. same store sales and a continued deterioration in Chinese consumer demand. It’s positive to see stocks go up on bad news. It could be a sign that the worse is pricing out. Starbucks’s slight bump could also be part of the market rotation. Other companies we’re monitoring with exposure to the China’s weak economy include Club names Estee Lauder and Wynn Resorts . (Jim Cramer’s Charitable Trust is long NVDA, AAPL, SWK, BBY, MS, SBUX, EL, WYNN. 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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