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 is lower again Tuesday, continuing Monday’s sell-off amid increasing recession fears. President Donald Trump announced he is planning to raise tariffs on Canadian steel and aluminum to 50%, up from 25%. He’s also threatened to significantly raise tariffs on imported cars, contending that could shut down auto manufacturing in Canada. “The market wants to see some type of resolution,” said Jeff Marks, director of portfolio analysis. The health-care sector is taking a dip Tuesday, as are tourism-related stocks industry following weak updates from major airlines including Delta Air Lines , United Airlines, and Southwest Airlines . Some beaten-up portfolio stocks, such as Broadcom and CrowdStrike , are bouncing Tuesday. We bought the recent dip in CrowdStrike. 2. We added to our new position in credit card issuer Capital One on Tuesday morning after Baird upgraded the stock to a buy-equivalent rating with a new $200 price target. We also bought more Capital One on Monday afternoon. Jim Cramer said the company’s pending acquisition of Discover Financial Services has transformative potential because, in addition to issuing credit cards, Discover owns a card network, improving its competitive position against MasterCard and Visa. “It’s switching from being a bank to being a [financial technology company,” Jim said. “This is a coloration change.” In its note, Baird said Capital One’s recent weakness has presented a buying opportunity that could yield some of the most profitable risk-adjusted returns over the next few years in a very sensitive sector. 3. Club stock GE Healthcare also saw a nice upgrade by Goldman Sachs, which took its rating to a buy from neutral on a belief that its business in China is improving ahead of schedule. Analysts also raised their price target to $100 a share from $85. Shares of GE Healthcare were up more than 3% during the Morning Meeting, before giving up some of those gains later in the session. Jim called GE Healthcare another “reposition name,” where we could book some profits and use those funds to buy into other stocks we think have taken a hard hit. “That’s what I’m trying to do,” Jim said. “Trying to circle the wagons around the best of the ones that are down and take the ones that are overinflated because of a thin market.” We later trimmed GE Healthcare on Tuesday . 4. Stocks covered in Tuesday’s rapid fire at the end of the video were: Oracle , Dick’s Sporting Goods, Kohl’s , Delta Air Lines, and United Airlines, and Southwest Airlines. (Jim Cramer’s Charitable Trust is long Capital One , GE Healthcare . 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.
