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. Stocks are higher to start the shortened trading week after President Donald Trump's inauguration Monday. While it appears that investors are bullish on the new administration's plans, with all major indices in the green, they're also trying to gauge the impact of Trump tariffs proposal. Trump pledged tariffs of as much as 25% on Mexico and Canada as early as Feb. 1. Trump has so far held off on tariffs for Chinese goods. Higher tariffs are Trump's solution to raise income for the U.S. government. Jim Cramer suggested Mexico, a key U.S. trading partner "wants to make a deal that's levelheaded and meaningful for everybody" given its mass migration. We care about tariffs as they could directly impact some of our consumer-focused stocks. 2. We made a few trades Tuesday. First, we trimmed our position in Coterra Energy as shares of the oil-and-gas producer are off to a great start to 2025, rallying 15.4% thanks to strength in commodities. We also cut some Honeywell over concerns about a weak 2025 guide and the stock being in spin-off purgatory. The company is expected to announce a breakup on Feb. 6. Lastly, we added to our position in Eli Lilly after the stock got hit last week on a soft fourth-quarter pre-announcement. Jim said investors are "underestimating the earnings power" of its GLP-1 and diabetes franchise; the company makes the popular weight-loss treatment Zepbound and type-2 diabetes drug Mounjaro. More broadly, Jim added, the drug companies "are trading at incredibly low levels." 3. Jim said medical device company Abbott Labs is a buy even after the stock's 2.5% gain this year to $115. Abbott is the "most undervalued medical device company there is" Jim said, highlight i ng the stock's valuation, which is trading at a discount to the iShares U.S. Medical Devices ETF. The stock is "finally getting the multiple that [CEO] Robert Ford said it would get," Jim added. Abbott is scheduled to report its fourth-quarter earnings Wednesday before the bell. 4. Stocks covered in Tuesday's rapid fire at the end of the video were: 3M , D.R. Horton , General Motors , Warner Bros Discovery , Wingstop and Texas Roadhouse . (Jim Cramer's Charitable Trust is long CTRA, HON, LLY, ATB. 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.
