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 edged lower Tuesday, with the S & P 500 down 0.2%, as bond yields climbed on the back of stronger-than-expected September retail sales . Retail sales rose 0.7% on the month, well above the 0.3% Dow Jones estimate, according to the U.S. Commerce Department’s monthly report. The news sent the yield on the 10-year Treasury up by 9 basis points, to more than 4.8% . The retail data shows that American consumers are still willing to spend amid economic uncertainty, likely allowing the Federal Reserve to keep interest rates higher for longer. 2. A number of Club consumer stocks were outperforming in the wake of Tuesday’s positive retail report, including Constellation Brands (STZ), TJX Companies (TJX) and Costco Wholesale (COST). A focus on quality merchandise at value prices should be one of the big themes this holiday shopping season, especially bolstering off-price retailer TJX and Costco. Meanwhile, ecommerce giant Amazon (AMZN) came under pressure Tuesday, and that’s largely because it’s more than just a retail stock. UBS lowered its price target on Amazon to $178 a share, down from $180, on concerns over slower growth at the company’s cloud business. The firm maintained a buy rating on Amazon stock. 3. Semiconductor stocks were falling Tuesday after the U.S. announced new plans to further restrict the export of artificial intelligence chips to China , targeting Club holding Nvidia ‘s (NVDA) A800 and H800 chips. Shares of Nvidia tumbled more than 4% Tuesday morning, to around $441 apiece. Chipmakers will now have to notify the U.S. government before selling chips that don’t meet the controlled threshold. Nvidia has said it doesn’t expect a meaningful near-term impact on its financial results, given unprecedented global demand for its AI chips. But the broader implications remain to be seen, as Nvidia will likely need to the Chinese market to grow its business long term. (Jim Cramer’s Charitable Trust is long STZ, TJX, COST, AMZN, NVDA. 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.
