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. Wall Street started the troublesome trading month of September with sharp declines. The S & P 500 , which closed its strong August on the upswing Friday, was down nearly 1.5% on Tuesday — the first day of this holiday-shortened week. The Nasdaq was down more than 2%. Most of the portfolio was in the red. Consumer staples was the best-performing sector, with Club holdings Procter & Gamble and Constellation Brands up almost 1.5% and 2.5%, respectively. On the downside, second only to tech, energy was getting crushed as a drop in U.S. oil prices wiped out this year’s gains. Our lone oil and natural gas stock, Coterra Energy , fell nearly 2.5%. Tech was, indeed, the worst-performing sector, plunging 3%. Club chipmakers Nvidia and Advanced Micro Devices sank more than 7% and nearly 2.5%, respectively. Jim Cramer said he’s considering AMD as a possible buy with bond yields lower and artificial-intelligence-fueled capital spending showing no signs of slowing. However, Jim said that to feel comfortable buying the dip at this stage, the stock market must first work off its overbought condition. As measured by the S & P Short Range Oscillator , the market has been overbought since the close on Aug. 19. With last week’s restrictions lifted, we trimmed our Eli Lilly position Tuesday, booking a nearly 300% gain. September, known as one of the toughest months for stocks, promises to be eventful. The government’s latest employment report is out Friday. Jim said that’s the number he’s really paying attention to for guidance on how much the Federal Reserve cuts interest rates after its two-day meeting Sept. 17-18. A rate cut is universally expected — just how much is the question. Next week, the government’s two inflation reports — CPI on Sept. 11 and PPI on Sept. 12 — will also figure into the Fed’s rate decision. (See here for a full list of the stocks in Jim Cramer’s Charitable Trust.) 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.