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. Wall Street surged Tuesday on increased hopes of tariff deals, following a wickedly volatile session Monday. The Dow Jones Industrial Average climbed around 1,400 points, or 3.7%. The S & P 500 jumped nearly 4% while the tech-heavy Nasdaq Composite advanced more than 4%. Short-sellers covering their bets against the market could be adding to the buying momentum, Jim Cramer said, because those investors don’t want to be burned if President Donald Trump announces trade deals in the coming days. If China capitulates or Trump comes to agreements that lowers tariffs with some countries, “the market is going to be up substantially,” Jim argued. 2. Shares of Apple jumped more than 4% Tuesday, as the stock tries to eat into its nearly 19% decline over the three prior sessions. Reports indicate that Apple is “frantically” trying to shift some iPhone production to India from China to avoid the higher duties on Chinese imports set to go into effect Wednesday, Jim said. India is set to a face a 26% tariff beginning Wednesday, compared with what could be above 100% on China if Trump’s latest pledge of an additional 50% duty comes to fruition. The Wall Street Journal also reported Monday that there’s been a wave of consumers buying new iPhones out of a fear that prices could rise due to tariffs. “It’s hostage to these trade deals. Will they get exemptions? Doesn’t seem likely, but we’ll see,” Jeff Marks, director of portfolio analysis, said. While we watch this situation play out, Jim said be patient with the stock: “I’m not a buyer or a seller of Apple right here.” 3. Goldman Sachs is divided on our two drugmakers, Eli Lilly and Bristol Myers Squibb . The firm’s equity analysts initiated coverage of Lilly with a buy rating and said the longtime Club stock is poised to remain the market leader in obesity drugs in the coming years. Lilly shares, which have been hit hard lately, added more than 5% Tuesday, and Jim said he expects the stock to eventually work its way back to its highs of the year. On the other hand, the Goldman analysts put a hold-equivalent neutral rating on Bristol Myers, citing uncertainty on whether the company will successfully be able to fill in the revenue gaps created by losses of patents on key drugs. Jeff noted that Bristol Myers is sitting out the rally Tuesday, but that is not entirely surprising because the stock has acted rather defensively in recent weeks. “So, when you get an oversold bounce, the stocks that are going to bounce the hardest are the ones that were hit the hardest,” he explained. 4. There was no rapid fire at the end of Tuesday’s Morning Meeting. (Jim Cramer’s Charitable Trust is long AAPL, LLY and BMY. 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.