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 markets are lower Tuesday, with the Dow Jones Industrial Average falling more than 500 points and the S & P 500 down more than 1% to kick off September. Investors are digesting the latest tariff developments and rising Treasury yields. President Donald Trump’s aggressive global trade policies took a massive hit after a federal appeals court on Friday night ruled that most of his “reciprocal” duties were imposed illegally. “This is one ugly day,” Jim Cramer said, but he added that he’s not seeing a lot to buy yet. “My reluctance to buy anything has to do with this is the first really bad down day,” he said. “We’ve got the tariff issue; we’ve got China, Russia and India getting together. We have some strong economic numbers and we’ve got [the jobs report] on Friday,” Jim added. Jeff Marks, the Club’s director of portfolio analysis, also noted that seasonality could be a factor in Tuesday’s sell-off because September is historically known as a weaker month for stocks. 2. Salesforce shares are down ahead of Wednesday’s earnings after the closing bell. In a note to clients, Morgan Stanley said their channel checks are stable overall but “slightly uninspiring.” However, the analysts noted some traction on deals for its important new AI offering known as Agentforce, which is part of why they think Salesforce’s topline revenue growth could accelerate in calendar 2026. Analysts raised its price target on Salesforce by $1 to $405. Salesforce CEO Marc Benioff recently said on a podcast that the software provider reduced its headcount in its customer support unit by thousands of people due to the use of AI. “People are expensive at Salesforce. So, [the layoffs are] not bad. But I have to tell you. I don’t think that’s what people are in Salesforce for. I think they’re in it for growth,” Jim said. 3. Meanwhile, Starbucks is showing more signs of progress in its turnaround. In a memo to employees seen by Bloomberg News, CEO Brian Niccol said that the coffee chain’s fall product launch helped deliver a record breaking sales week across company-operated stores in the U.S., along with strong sales in Canada. “They’re doing some things that will hurt the gross margins, I think, but help the throughput,” Jim said, referencing a term that describes the number of customers served per hour. “I do point out that when he says that it’s record numbers, it means something’s working. Sell that stock at your own peril,” Jim said. 4. Stocks covered in Tuesday’s rapid fire at the end of the video were: Pepsi Co , Constellation Brands , Kraft Heinz , McDonald’s , and Lam Research . (Jim Cramer’s Charitable Trust is long CRM, SBUX . 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.
