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 S & P 500 was little changed Tuesday morning, while the Dow rose 0.5% and the Nasdaq dipped 0.3%. All three major averages closed at all-time highs on Monday. Megacap technology stocks have been driving the market momentum and gains, “while the average stock has not been as good,” portfolio director Jeff Marks said Tuesday. That balance is keeping the S & P 500 Short Range Oscillator at 1.16% — neither overbought nor oversold. (Anything above a plus 4% indicates the market is overbought and perhaps time to sell stocks; anything below a minus 4% shows the market is oversold and potentially time to buy.) 2. AI chip leader Nvidia said it is investing $100 billion in AI startup OpenAI, which in turn will deploy at least 10 gigawatts of AI data centers with Nvidia AI processors. This partnership aims to expand AI infrastructure across the U.S. Nvidia shares jumped nearly 4% on Monday following the announcement, but gave back some of those gains Tuesday. This deal is also additive to AI infrastructure trade, including industrial names like GE Vernova , which makes gas turbines that power data centers, and Eaton , which provides electrical equipment inside data centers. This partnership does come with some risks. D.A. Davidson cautions Nvidia being the lender of last resort by “bailing OpenAI’s overextended commitments.” Another market concern is Nvidia supporting demand by funding companies that will then buy its chips. While these are valid concerns, Nvidia’s price performance and return on investment of its chips matter most to us. 3. It’s another good day for the bank stocks, with shares of Wells Fargo , Goldman Sachs , Capital One , and BlackRock all trending higher. Jim Cramer is considering taking some profits on one of these holdings. While they’ve all seen huge gains, we don’t want to sell winners to fund losers. Bank stocks are up on the idea that the Federal Reserve will continue to cut interest rates after its first cut this month. If that happens, these banks will remain great plays. (Jim Cramer’s Charitable Trust is long NVDA, GEV, ETN, WFC, GS, COF, BLK. 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.
