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. ‘Sitting in no-man’s land ‘ Tech stocks to rise in AI Watch Eli Lilly 1. ‘Sitting in no-man’s land’ Stocks edged down in directionless trading Tuesday morning after President Joe Biden and House Speaker Kevin McCarthy failed to reach a deal on raising the U.S. debt ceiling during negotiations the prior evening. The government could default on its debt obligations as early as June without an agreement. The market is “sitting in no-man’s land,” Jeff Marks, director of portfolio analysis at the Club, said Tuesday. Meanwhile, U.S. bond yields rose to their highest level since March, with that of the 10-year Treasury at 3.7%. Oil prices climbed more than 1%, with West Texas Intermediate crude trading around $73 a barrel, after Saudi Arabia’s oil minister warned market speculators to “watch out.” Jim Cramer said Tuesday that inflation and the Fed’s fight against it are still in play. 2. Tech stocks to rise on AI Jefferies on Tuesday raised its price target on Club holding Microsoft (MSFT) to $400 per share, from $350, while maintaining a buy rating on the stock. The firm also upped its price target on fellow Club holding Alphabet (GOOGL) to $150 from $130 and kept its buy rating. The price target increases come as “AI companies are dominating” the stock market and leading the “reacceleration of tech,” Jim said. Those stocks have been boosted by big companies moving their infrastructure into the cloud to be able to take advantage of Big Tech’s artificial intelligence capabilities. Jim added that Club name Nvidia (NVDA), which reports first-quarter results after the bell Wednesday, still remains the semiconductor firm to own for its AI prowess. Stifel on Tuesday raised its price target on Nvidia to $300 from $225 and kept its neutral rating. 3. Watch Eli Lilly TD Cowen on Tuesday raised its price target on Club holding Eli…
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