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 lower to start October following a strong month of gains in historically weak September. The Nasdaq fell about 1.5%, while the S & P 500 lost nearly 1%. The Dow Jones Industrial Average was the relative outperformer, down about 0.3%. Losses on Wall Street picked up steam after reports that Iran was preparing to launch ballistic missiles against Israel. Oil prices jumped in response. After indicating Monday afternoon we were debating buying more of Coterra Energy , we opted to do so Tuesday. The recovery in natural gas prices initially got us interested adding to the position, while Tuesday’s reports make Coterra’s standing as a geopolitical hedge more attractive. 2. Shares of Disney dropped more than 1% Tuesday following a downgrade from Raymond James. Analysts took the stock to a hold-equivalent rating from outperform on the belief that headwinds in its theme park business will keep a lid on the stock. They’re also cautious into earnings since the Paris Olympics took some attendance away from Disneyland Paris and weather events may have impacted travel to other parks. While the stock has “lost its luster” to many on Wall Street, Jim said his “conviction is not shaken” on Disney. That’s because its movie slate is improving, its cruise business has been strong, and management has drastically cut costs. “I come out and say, ‘It’s an earnings story,’ and the earnings story is going to be pretty good. That’s where I am,” Jim said. “I’m not buying the negativity,” he added. 3. Shares of Apple are down more than 3% on another negative analyst report on iPhone 16 demand. This time around, Barclays said its channel checks suggest the company may have cut roughly three million units at a key iPhone semiconductor component for the December quarter. If true, this would be a short-term negative, but we have a long-term view on this AI-fueled iPhone upgrade cycle. Plus, Jim noted that Apple frequently changes parts suppliers that management is not happy with. More generally, we continue to look past these soft channel checks because the real reason to buy a new phone is Apple Intelligence, which is rolling out later this month. Once it does, demand for the iPhone 16 should pick up. 4. Stocks covered in Tuesday’s rapid fire at the end of the video were: Boeing , McCormick , Charles Schwab , Clorox and Pinterest . (Jim Cramer’s Charitable Trust is long CTRA, DIS, AAPL. 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.