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LivestreamMenuEvery 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. Stocks fell to start September as inflation concerns and rising oil prices caused a spike in bond yields both in the U.S. and abroad, putting into question whether the Federal Reserve will raise interest rates later this month. According to the CME Group FedWatch tool, there’s a roughly 66% chance of a rate hike at the next Fed meeting on Sept. 16. “I’m seeing a lot of the data center [stocks] just get clobbered, like [Club holding] Qnity ,” said Jim Cramer. Jim has discussed how the data center buildout has become an increasingly politicized issue. Now, the threat of monetary tightening adds another hurdle as higher borrowing costs could make it more expensive to finance these projects. Jim pointed out that other sectors, such as software, pharmaceuticals, banks, and energy stocks, are faring better than stocks tied to the data center buildout. 2. The Wall Street Journal reported that AI startup Anthropic entered a $35 billion cloud-computing deal with Nvidia -backed cloud provider Lambda. Under the agreement, Nvidia will provide the Texas data center with chips and also hold the lease, according to the report. Baird analysts said the agreement will help Nvidia maintain its market share lead over AI frontier labs. Jim defended Nvidia CEO Jensen Huang’s willingness to invest in AI companies that traditional banks might view as risky, saying the company knows its chips retain value and can always take back its products if a borrower fails to pay. “We could all just say everything [Jensen Huang] does is fraudulent, or we can say he is remarkable and he’s doing great things,” said Jim. “I am in the remarkable-great-things camp. That’s who I am.” 3. Amazon shares fell nearly 2% following news Monday that it’s being sued by the Federal Trade Commission and 22 state attorneys general, who allege that Amazon engaged in deceptive and unfair practices in its advertising business. Amazon responded in a blog post , calling the lawsuit “misguided,” saying there was no harm to consumers, and assuring that it offers the lowest daily prices on a wide selection of products. “This is very reminiscent of the Justice Department going up against Google, and it went nowhere,” said Jim. “People should recognize that if you sell [Amazon’s stock] on this, you’re not being historical. How’s that? You’re not being historical. You’re hysterical,” he added. 4. Stocks covered in Tuesday’s rapid fire at the end of the video were: Medtronic , Robinhood , and Howmet Aerospace . (Jim Cramer’s Charitable Trust is long NVDA, Q, and AMZN. 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.Read More
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