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. Stocks fall on CPI Watch Nvidia Buy Linde on a pullback 1. Stocks fall on consumer price data Stocks edged down in midmorning trading Tuesday after the U.S. Labor Department’s monthly consumer price index showed inflation rose ahead of expectations in January. The S & P 500 fell by nearly 1%, while the Nasdaq Composite lost around 0.8%. Even though inflation continues to cool sequentially, the latest data shows the Federal Reserve still has more work to do to rein in rising prices. Wall Street expects the Fed to raise interest rates by another quarter percentage point in March, according to the CME FedWatch Tool . 2. Watch Nvidia Nvidia (NVDA) stock climbed roughly 2.6% Tuesday morning, to $223.56 a share, a day after Bank of America said the semiconductor firm is poised to “lead the nascent generative AI arms race” — a view with which we agree. BofA analysts increased their price target on Nvidia stock to $255 a share from $215. The chipmaker’s cloud business — in which AI operations figure prominently — continues to be a key driver of growth long term, and a reason we still back the stock. Shares of Nvidia have risen more than 50% year-to-date and could see a near-term pullback, at which point we would consider adding to our position. 3. Buy Linde on a pullback BMO Capital this week raised its price target on industrial gas giant Linde (LIN) to $378 a share from $370 on the heels of the company reporting strong fourth-quarter results last week. But Linde could expect some short-term volatility as it delists from the Frankfurt Stock Exchange, and we would see any pullback as a buying opportunity. Longer term, Linde should be a key beneficiary of the Inflation Reduction Act , which has a central focus on clean energy initiatives. Linde is more “new economy than we thought” and is the Club’s main…
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