Jim Cramer’s CNBC Investment Club hosts a “Morning Meeting” livestream weekdays at 10:20 a.m. ET. A recap of Tuesday’s big moments. Wall Street was under pressure Tuesday. If the Dow Jones Industrial Average closes lower, the 30-stock average will have lost nine straight for the first time since Jimmy Carter was president in 1978. “Look for a crescendo. In a crescendo, the market goes down, down, down, and then volume explodes. Then there’s a liquidation event and it goes up again. We haven’t experienced that crescendo yet.” Jim said during his morning meeting. Keep in mind that the Dow Jones Industrial Average is price-weighted. And the sharp decline since the insurance CEO of UnitedHealth, its most expensive stock, was shot and killed on a New York City street may be distorting the overall trend. There was also a rotation into the Magnificent Seven stocks, which is why the Nasdaq closed at a record high on Monday. West Texas Intermediate crude, the U.S. oil benchmark, fell below $70 a barrel on demand concerns. Peter Navarro, who is set to become President Donald Trump’s top trade adviser, said on CNBC on Tuesday that the “drill, baby drill” policy will cause oil prices to fall further. Navarro said the inflation caused by the president-elect’s proposed tariffs could be offset by WTI of $50 per barrel, leading to lower gasoline prices. “(Navarro) will need the cooperation of the oil companies,” Jim said, noting that the energy giants are reluctant to oversupply the market and watch oil prices fall. It executed a plan to cut Broadcom, which is no longer restricted, and booked a profit on Tuesday. We weren’t the only custom chip maker’s stock to drop more than 4%. “You don’t want to do nothing when you see a parabolic rise,” Jim said. “Let’s talk about the hard questions,” he added, referring to Advanced Micro Devices, which also cut Tuesday. After speaking with Marvell CEO Matt Murphy on Monday night’s “Mad Money,” Jim said that big tech companies are seeking AI processors from Nvidia and custom chips from Broadcom and Marvell. said that AMD is in a difficult position in the market. Jim also commented on the recent slide in club stock Nvidia. The company’s stock ended Monday’s trading down nearly 14% from its Nov. 21 intraday high of $152.89, and came under pressure again on Tuesday. “NVIDIA has spurts. They do nothing and then they have spurts,” he said. “We chose not to[cut NVIDIA]. Why? Because we think the future is bright.” The stocks featured in Tuesday’s rapid-fire at the end of the video were Pfizer, They were Brown-Forman, Cisco Systems, Planet Fitness, Dell, and Arista Networks. (The Jim Cramer Charitable Trust is long AVGO, AMD, NVDA. See here for a complete list of stocks.) As a subscriber to Jim Cramer’s CNBC Investment Club, before Jim makes a trade Receive trading alerts. After Jim sends a trade alert, he waits 45 minutes before buying or selling stocks in his charitable trust’s portfolio. If Jim talks about a stock on CNBC TV, he will issue a trade alert and then wait 72 hours before executing the trade. The above investment club information is subject to our Terms of Use and Privacy Policy, along with our disclaimer. No fiduciary duties or obligations exist or arise from your receipt of information provided in connection with the Investment Club. No specific results or benefits are guaranteed.
Jim Cramer talks about NVIDIA’s recent 14% decline and what to do with the stock.
By NvidiaDaily
