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. Equities under pressure Debate over Emerson Stick with Amazon 1. Equities under pressure U.S. stocks fell in midmorning trading Tuesday as the market digested new data showing job openings unexpectedly jumped in August, according to the Labor Department’s monthly Job Openings and Labor Turnover Survey. The S & P 500 lost 1.36%, while the Nasdaq Composite dropped 1.7%. Bond yields, which tend to have an inverse relationship with equities, continued their march north, with that of the 10-year Treasur y at more than 4.7%. The strong U.S. dollar has also become a headwind again for stocks, with the currency at its highest levels since last November. As a result, the stock market is now more oversold than it’s been since the spring, at minus 6.38%, according to the S & P 500 Short Range Oscillator . That means “we know we have to buy something because of our discipline,” Jim Cramer said Tuesday. 2. Bull-Bear debate over Emerson UBS on Tuesday downgraded Club holding Emerson Electric (EMR) to neutral, while raising its price target on the stock to $104 a share, up from $97. The firm argued that the company’s multiple upside is capped by its outsized oil-and-gas exposure and unclear valuation creation around mergers & acquisitions. Meanwhile, KeyBanc on Monday initiated coverage on Emerson with an overweight rating and $120-per-share price target. The bank expects Emerson’s transformation into a pureplay automation company will unlock higher growth, margins and earnings power over the cycle. 3. Stick with Amazon JPMorgan said Tuesday that it would buy the recent pullback in Amazon (AMZN) shares, despite a host of investor concerns. Club holding Amazon’s stock has fallen 11% since its mid-September high. JPMorgan highlighted investor worries over the stock — including slowing growth at Amazon Web Services; a more cautious…
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