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. U.S. stocks fell Tuesday as Wall Street awaited this week’s key inflation data. The March consumer price index, closely watched by the Federal Reserve, is out Wednesday. “I don’t expect today to be anything other than a ‘travel day'” for the market, Jim Cramer said on the second straight session of relatively muted action. “I know the CPI is going to matter a lot, a great deal,” Jim said, but not quite as much as Friday’s strong jobs report. Thursday, we get the March reading on producer prices. Alphabet surged Tuesday to an all-time high after Google announced a new Arm -based custom artificial intelligence chip ahead of the noon ET keynote address at the company’s cloud conference . “Today is Alphabet day,” Jim said. “It’s a very significant day for Alphabet.” The news is an upbeat sign for Google’s position in the heated AI arms race, as hyperscalers like Amazon , Microsoft and Meta Platforms also make more of their own chips to reduce their reliance on Nvidia. Global personal computer shipments returned to growth in the first quarter, according to data tracker IDC. After two straight years of post-Covid demand declines, the worldwide PC market grew 1.5% year-over-year in the first three months of 2024, IDC reported. This is great news for recently added portfolio name Best Buy . Jim said that PC demand will be accelerated by forthcoming AI-integrated machines, which should mean more sales for the electronics retailer. That’s on top of the normal refresh cycle that’s underway since people bought PCs during pandemic lockdowns. (Jim Cramer’s Charitable Trust is long BBY, NVDA, AMZN, MSFT, META, GOOGL. 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…
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