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. U.S. stocks were mostly lower to start the holiday-shortened week as investors studied more fourth-quarter earnings reports. The Dow , the S & P 500 , and the Nasdaq were all higher last week. The three major benchmarks were down early Tuesday and trying to claw their way higher against the headwind of higher bond yields. The 10-year Treasury yield briefly rose above 4%. Oil was modestly negative Tuesday, continuing last week’s declines. Natural gas , which soared 14.5% last week, was falling roughly 10%. 2 . Morgan Stanley posted solid fiscal results before the opening, boosted by strength in the bank’s deal-making business. The firm beat analysts’ estimates for fourth-quarter revenue. Earnings per share missed. It was also new CEO Ted Pick’s first earnings call at the helm. Management had a more positive tone around M & A and IPO activity too, which would bolster Morgan Stanley’s crucial investment banking business. However, shares of Morgan Stanley fell more than 3% — currently on a five-session losing streak after the stock soared at the end of 2023. This was a much better quarter than last, but we’re still waiting for Morgan Stanley to trade lower before considering another buy. 3 . DuPont stock tumbled Tuesday after receiving a double downgrade. Bank of America slashed the chemicals maker’s rating to underperform from outperform (sell from buy), citing concerns over potential legal liabilities and what analysts called “modest” earnings growth for 2024. We’re more cautious about the company following signals that a recovery in semiconductors and electronics may be delayed. The Club made a small sale of DuPont shares on Jan. 8 on these concerns. We still like the thesis long-term centered on a bounce in semiconductors and electronics. But we aren’t wedded to the stock if we sense another pushout is coming. (Jim Cramer’s Charitable Trust is long MS, DD. 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.
A double downgrade of one of our stocks reflects our caution. Why we're hanging in, for now
