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 Trades in an overbought market Gen-Z still spending 1. Stocks fall U.S. equities were mainly lower Tuesday in late morning trading, despite data from the U.S. Labor Department showing job openings in February fell below 10 million for the first time in two years. The agency’s lagging data comes ahead of its closely-watched jobs report for March, set to be released on Friday. Meanwhile, oil prices largely maintained Monday’s gains on the back of an unexpected decision by the Organization of the Petroleum Exporting Countries and its allies to cut output , with West Texas Intermediate crude hovering around $80 a barrel. The S & P 500 fell 0.55%. 2. Trades in an overbought market With the S & P 500 Short Range Oscillator still in overbought territory Tuesday, we made two sales to raise some cash. Firstly, we fully exited our position in Devon Energy (DVN), taking advantage of the rise in oil prices to sell into strength. We also trimmed our position in consumer goods giant Procter & Gamble (PG). Although the stock had a rough start to the year, shares have been higher over the past few weeks on analyst upgrades. We still like P & G because it’s a defensive play for 2023, given its ability to maintain pricing power. 3. Gen-Z still spending Piper Sandler Tuesday released its semi-annual “Taking Stock with Teens” survey, which focuses on shopping trends among U.S. teens and the Gen-Z demographic. The results showed the cohort’s continued demand for consumer-exposed Club holdings like Estee Lauder (EL), Apple (AAPL), Meta Platforms (META), and Amazon (AMZN), to name a few. (Jim Cramer’s Charitable Trust is long DVN, PG, EL, AAPL, META, AMZN. 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.
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