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 Monday’s key moments. 1. Stocks on Monday were trying to bounce from Friday’s sharp selloff, which saw the S & P 500 post its biggest one-day pullback of the year. “I don’t know if it’s going to take,” Jim Cramer said during the Morning Meeting, citing a number of things working against the market such as declining GDP growth estimates and the drubbing of Palantir and other high-flyers. In his Sunday column , Jim wrote: “What do you do when that happens? You keep your cash and you wait” for the market to get oversold. It’s not there yet, according to the S & P 500 Short Range Oscillator . Jim said, “Count on the Oscillator,” it will let you know when to buy. 2. Another factor weighing on the market was Microsoft , though it has come way off the lows of the session. TD Cowen said on Friday that Micorosft has canceled some U.S. data center leases. The company refuted those claims on Monday. The stock, which was getting crushed in the premarket and opened down more than 2%, has cut those losses in half. Jim said the Club has been a seller of Microsoft, and he has “no desire to buy it back right now.” Microsoft selling extended into the power generation data center buildout plays, with Club stock Eaton down more than 2%. “Call me a buyer soon, because Eaton has other businesses that are doing a lot of good things,” Jim said. We added to Eaton on Friday. 3. Starbucks shares rose more than 1.5% on Monday after CEO Brian Niccol announced plans to lay off 1,100 support workers to simplify the coffee giant’s corporate structure. The move is part of Niccol’s “Back to Starbucks” plan, which involves positioning the company to operate more efficiently by doing more with less. In a Monday letter to employees, Niccol said he aims to accomplish this by “removing layers and duplication and creating smaller, more nimble teams.” Jim believes that Niccol, only in the CEO role since September, has been doing a remarkable job at Starbucks. 4. Stocks covered in Monday’s rapid fire at the end of the video were: Domino’s Pizza , Nike , and RTX . (Jim Cramer’s Charitable Trust is long MSFT, ETN, SBUX. 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.
