Every weekday, CNBC Investing Club hosts a livestream of the “Morning Meeting” with Jim Cramer at 10:20 a.m. ET. Here’s a recap of Tuesday’s key moments. U.S. stocks rose Tuesday following a lower-than-expected producer price index for July. The moderation in inflation bolsters the case for the Federal Reserve to cut interest rates by 50 basis points in September. The latest retail inflation reading — the consumer price index — comes out Wednesday. The S&P 500 rose more than 1% and the Nasdaq gained nearly 2% following Tuesday’s producer price index. Club chip giant Nvidia added another 5%. Morgan Stanley’s supply chain checks suggest the release schedule for Nvidia’s new Blackwell artificial intelligence chip platform remains largely unchanged, despite reports to the contrary. Starbucks shares rose more than 20% after announcing Tuesday that controversial CEO Laxman Narasimhan is stepping down. He will be replaced by Chipotle CEO Brian Niccol, who will take over the post next month. Following the change, there were many upgrades of Starbucks stock on Wall Street. Jim Cramer said he was happy with the change and remains loyal to Starbucks stock. But to investors who bought Starbucks the same day we added to our position on July 29, Jim said he wouldn’t blame anyone if he sold some of those shares for a quick profit. Club name Palo Alto Networks is getting mixed reviews on Wall Street ahead of next week’s earnings release. Mizuho raised its price target on the cybersecurity stock to $380 per share from $350. Analyst reviews suggest demand has picked up for the first time in several quarters. Morgan Stanley, on the other hand, said it would not be a Palo Alto buyer given the stock’s recent outperformance earlier in the quarter. Shares have gained about 10% since our most recent buy on Aug. 2 at $303. Jim believes Palo Alto will be a big beneficiary of Crowdstrike’s software update last month that resulted in one of the largest IT outages in history. (Jim Cramer’s Charitable Trust is long NVDA, SBUX and PANW. A full list of stocks can be found here.) As a subscriber to CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. After sending a trade alert, Jim will wait 45 minutes before buying or selling a stock from his Charitable Trust’s portfolio. If Jim has discussed a stock on television, he will wait 72 hours after the trade alert is issued before executing the trade. THE INVESTING CLUB INFORMATION DESCRIBED ABOVE IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY AND OUR DISCLAIMER. NO FIDUCIARY OBLIGATION OR DUTY EXISTS OR IS CREATED BY RECEIVING INFORMATION RELATED TO THE INVESTING CLUB. NO PARTICULAR RESULT OR PROFIT IS GUARANTEED.
