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Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Market update: Stocks are getting hit hard Tuesday and technology stocks are taking a real bruising. The market’s drop comes after the S & P Oscillator moved out of oversold territory following the S & P 500 ‘s 2.7% gain move last Friday to Monday. The AI-trade isn’t getting any love ahead of Nvidia’s GTC conference and Corning’s positive first-quarter preannouncement at its investor day. Meta Platforms is a notable underperformer and the stock has been under pressure all session. A Bloomberg report that says Oracle is considering a proposal for a sale of TikTok’s U.S. operations that would have it provide security assurances and take a small stake in the new American company may be contributing to Meta’s decline. Nvidia’s big event kicks off: Nvidia shares remained lower by roughly 2% as CEO Jensen Huang delivered his much-hyped keynote at the AI chip king’s GTC conference in San Jose, California. Here’s a few highlights from the presentation so far: Huang offered up some stats to show just how much AI computing demand is increasing among the top four cloud service providers in the U.S.: Amazon Web Services, Microsoft’s Azure, Alphabet’s Google Cloud and Oracle Cloud Infrastructure. In 2024, Nvidia shipped 1.3 million Hopper generation GPUs to those four companies. So far in 2025, the company has sent 3.6 million Blackwell generation GPUs to those customers (with Blackwell, there are two GPUs per chip). “In just one year, you can see the incredible growth in AI infrastructure,” Huang said. Huang also discussed projected spending on AI infrastructure. He said, “I’ve said before that I expect data buildout to reach a trillion dollars, and I am fairly certain we’re going to reach that very soon.” Huang announced a partnership with General Motors on advanced driver-assistance systems and how the automaker can use Nvidia’s virtual factories. It came as Huang spent a few minutes talking about Nvidia’s years of work on self-driving cars and the prevalence of its technology across that industry. He noted that Tesla uses Nvidia chips in its data centers, while companies such as Alphabet’s Waymo use Nvidia tech in multiple ways. Bank bounce: The financials are holding up well despite the market volatility. Capital One and Discover are rebounding from Monday’s decline as investors weigh the possibility of remedies if, in fact, the Department of Justice tries to block the merger. The big banks — JPMorgan , Morgan Stanley , and Goldman Sachs — are responding to a positive story from Bloomberg that detailed industry strength in equity trading amid the market’s volatile start to the year. Although large-scale deal activity is off to a much slower start to 2025 than what many (including us) predicted, it’s good to see trading revenues pick up the slack as we wait for the frozen IPO market to thaw out and M & A to pick up again. Better clarity around trade and tariff policy could be what’s missing to get dealmaking going again. Up next: There are no major earnings reports Tuesday after the closing bell. Before the opening bell on Wednesday we’ll see the latest earnings from Signet Jewelers , General Mills , and Ollie’s Bargain Outlet . Wednesday is also Fed decision day and at 2 p.m. ET the FOMC is widely expected to hold rates at 4.25% to 4.50%. The March meeting is the first one this year that has a summary of economic projections, which means an overextrapolation of estimates for GDP, unemployment and inflation and other data, as well as the Fed’s dot plots, which show where top Fed policymakers see the federal funds rate headed. (See here for a full list of the stocks in Jim Cramer’s Charitable Trust.) 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.
Nvidia CEO Jensen Huang holds a Blackwell GeForce RTX 50 Series GPU (L) and a RTX 5000 laptop as he delivers a keynote address at the Consumer Electronics Show (CES) in Las Vegas, Nevada on January 6, 2025.
Patrick T. Fallon | Afp | Getty Images
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street.
