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 Thursday’s key moments. 1. Markets slipped on Thursday following Wednesday’s pullback with losses accelerated by news of President Donald Trump ‘s latest tariff announcement. Trump on Wednesday said he would impose 25% tariffs on all cars that are not made in the United States, beginning April 2. “There’s still this general uneasiness ahead of Liberation Day, April 2,” said Jeff Marks, Director of Portfolio Analysis for the Club. He emphasized that investors are concerned, noting that Morgan Stanley analysts said the impact will be significant. Meanwhile, tech is getting pounded again as defensive sectors like staples and health care outperform. 2 . AI stocks are down following TD Cowen report on Wednesday highlighting Microsoft’s cancellation of more data center leases. According to Marks, markets are running with the idea of an oversupply of data centeres but ignored Cowen’s report that Google and Meta are stepping in to carry some of the load. Cowen analysts said that their takeaway from Nvidia’s GTC conference is that “data center demand has increased year over year.” Jim Cramer said that what is happening with Microsoft is a “convoluted story” for which we cannot draw any conclusions. 3. Nvidia is also taking a hit as Bank of America analysts point out the geopolitical risks involving China and the sweeping AI rules established by former President Joe Biden’s administration. Bank of America estimated that Nvidia has a 10% direct China data center exposure and questions whether that demand can be met by U.S. hyperscalers. The AI rules aim to control how chips and models are shared with other countries. It includes a tiered system whereby different countries could face limits and restrictions on what and how much they can import from American tech companies . Nvidia could remain volatile until May 15, when compliance for rules become mandatory. While the company’s stock has struggled and may go lower, Jim says Nvidia is still a great company. 4. Stocks covered in Thursday’s rapid fire at the end of the video were: Advanced Micro Devices , Stanley Black & Decker , Ford Motor Company , General Motors . (Jim Cramer’s Charitable Trust is long NVDA, MSFT, GOOG, META. 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.
