Jim Cramer’s CNBC Investment Club hosts a “Morning Meeting” livestream every weekday at 10:20 a.m. ET. A recap of Tuesday’s big moments. 1. Stocks were mixed on Tuesday, with the S&P 500 and Dow Jones Industrial Average up, the Nasdaq Composite slightly down, and big tech stocks under pressure. NVIDIA stock fell more than 6% after The Information reported that Meta may use Google’s tensor processing units (TPUs) in its data centers starting in 2027. Broadcom, which helps Google with TPU design, jumped 11% on Monday on the news. Jim Cramer said Nvidia’s decline is a buying opportunity. “If you don’t have Nvidia, now is the time to buy it,” he said. He added that investors “have an opportunity to buy meta” on the company’s potential for chip cost savings and stock price appreciation. 2. This “day of disappointment” for tech investors shows the value of having a diversified portfolio, Jim said. That’s why clubs prefer defensive names like Procter & Gamble. With a new CEO taking over in January, Jim expects changes to come. “Even if a new CEO takes over, we cannot change the current situation,” he said, noting that underperforming departments are likely to be cut. Despite Proctor’s recent disappointments, our thesis is that money will move away from high-flying tech stocks and into more profitable and economically resilient companies. So we added a position on Tuesday. Elsewhere, home improvement retailer Home Depot has fallen nearly 12% since the beginning of the year. Last week, we exploited that weakness to further improve our position. If interest rates fall, stock prices will rise. 3. Nike stock rose 3% after Dick’s Sporting Goods announced plans to close numerous Foot Locker stores during Tuesday’s third-quarter results. Dick’s acquired Foot Locker in May. “Nike is a buy, other than the Dick issue,” Jim said. Ed Stack, chairman of Dick’s Sporting Goods, told Squawk on the Street that his company’s relationship with Nike is improving. “They’re moving in the right direction,” he said, citing the strong performance of Nike’s running line. “If you look at what they’ve done with the running structure, what they’ve done with the Pegasus, what they’ve done with the Vomero, what they’ve done with the structure, this running concept has worked very well on the Dick side. It’s been placed in Foot Locker stores, and it’s worked very well there as well.” 4. The stocks featured in Tuesday’s rapid-fire at the end of the video were Best Buy, Agilent Tech, and Abercrombie. (Jim Cramer’s charitable trusts are long NVDA, META, AVGO, PG, HD, NKE. See here for a complete list of stocks.) As a subscriber to Jim Cramer’s CNBC Investment Club, you will receive trade alerts before Jim makes a trade. 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.
