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. 1. The S & P 500 edged higher Tuesday as Wall Street looks to regain its momentum into year-end. The tech-heavy Nasdaq Composite bounced back to outperformance, up nearly half a percent, while the Dow Jones Industrial Average was relatively flat. All three stock benchmarks fell on Monday. Alphabet ‘s roughly 4% pop was helping the Nasdaq — and gave us a chance to book some profits in the Google parent. Tuesday’s action comes ahead of the biggest event of the week: the consumer price index report for November, which is due out at 8:30 a.m. ET on Wednesday. Jim Cramer noted that the S & P Short Range Oscillator , his trusted momentum indicator, has moved further away from overbought territory. 2. Bank of America on Tuesday joined us in calling Eli Lilly a core holding , part of a broader note reinstating coverage of 11 companies in the biopharmaceutical sector. Analysts rated only three stocks as “buys,” and one of them was Lilly. Gilead and Merck were the others. Shares of Lilly are up just over 10% since their most recent low in November. “People lost faith in Eli Lilly,” Jim lamented, before noting that the obesity drug giant just announced a $15 billion buyback program and a 15% increase to its dividend payout for the seventh straight year. Both are bullish signs. “Obviously the demand [for its obesity drugs] is just off the charts,” Jim said. We bought more Lilly on Nov. 25 . 3. Jim said he’s itching to add to our position in another drugmaker, Bristol-Myers Squibb , if the stock falls a bit further from current levels around $58 a share. “If this stock goes to $56, we’re going to buy more,” Jim said. After initiating a position in Bristol-Myers in late November, we most recently purchased more shares on Dec. 4 at just over $58 each. Jim said he remains as upbeat as ever about Bristol-Myers’ new schizophrenia drug Cobenfy, which is at the heart of our investment thesis. “I think people don’t realize how big that market is,” he said. 4. Stocks covered in Tuesday’s rapid fire at the end of the video were: Oracle , General Motors , Toll Brothers , Chevron and MongoDB . (Jim Cramer’s Charitable Trust is long GOOGL, LLY and BMY. 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.
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.