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 action on Wall Street is relatively muted Tuesday as the market brushed off overnight news t hat President Donald Trump fired Federal Reserve Governor Lisa Cook on allegations of falsified mortgage documents. A handful of the “Magnificent Seven” stocks, however, are under modest pressure. “This is a day where I think there are too many cross currents,” said Jim Cramer. He advised investors to exercise caution, especially ahead of Club name Nvidia’s earnings Wednesday after market close. “Nvidia is the most important stock in the market. I advise people to just watch, don’t act,” he said. 2. Jim further addressed the market’s minimal reaction to the confrontation between Trump and Cook. As of now, there’s been no major swings to the dollar or bond yields. “What we’re involved with here is valuing companies and earnings,” Jim said, and that’s the prism through which he’s viewing this ongoing situation. How, exactly, the market values those things hinges on interest rates, and those rates can be influenced by perceptions of the Fed’s independence. “If you lose the Federal Reserve’s independence, then there will be fewer dollars to come in to help pay for our deficit. The biggest issue is not the Fed, the biggest issue is the deficit. We just need everyone in the world to buy our paper. If they don’t buy our paper, then interest rates go higher and our stocks go down,” he said. 3. Eli Lilly’s stock is up more than 4% Tuesday after a successful late-stage trial for orforglipron, its oral GLP-1. The positive trial supports filing for approval with U.S. regulators. According to the drugmaker, they might be able to launch as soon as early 2026. Jim said Lilly’s stock will “continue to climb,” noting the pill’s weight loss effectiveness for people who are both diabetic and obese. The pill offers several clear advantages including easier manufacturing and shipments to pharmacies because it doesn’t need to be refrigerated, and it’s also better for those who fear needles. The Club recently upgraded Eli Lilly back to a buy-equivalent 1 rating two weeks ago following a rush of insider buying at the company. With Eli Lilly’s stock in the low $720’s, Company CEO David Ricks is up roughly 13% on 1,632 shares purchased for $645 a piece on Aug. 12. 4. Stocks covered in Tuesday’s rapid fire at the end of the video were: Constellation Brands , Advanced Micro Devices , Interactive Brokers , VF Corp and AT & T . (Jim Cramer’s Charitable Trust is long LLY, NVDA. 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.