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 Watch Morgan Stanley Earnings on deck 1. Equities under pressure Stocks fell Tuesday morning, with all three major U.S. benchmarks down more than 1% . The drop comes as investors look to decisions on interest-rate hikes from the Federal Reserve and European Central Bank this week. Both central banks are expected to raise rates by at least 25 basis points, as inflation persists across the U.S. and Europe. Equities also came under pressure following comments Monday from Treasury Secretary Janet Yellen that the U.S. could run out of cash to meet its debt obligations by June 1. Amid the escalating market uncertainty, we exited our position in Cisco (CSCO) on Tuesday. 2. Watch Morgan Stanley Club holding Morgan Stanley (MS) plans to eliminate about 3,000 jobs, or 5% of its workforce, by the end of June. The layoffs are expected to largely impact the company’s banking and trading staff, according to Bloomberg, which initially reported the job cuts. The move should help Morgan Stanley protect its profits during a period of slower economic growth. Shares of MS were trading down more than 2%, at nearly $86 apiece, Tuesday morning. 3. Earnings on deck Club holdings Starbucks (SBUX), Advanced Micro Devices (AMD) and Ford (F) are set to report quarterly results after the closing bell Tuesday. AMD has previously said that the first quarter would mark a trough in its personal computer business. We also want to hear how the chipmaker’s artificial intelligence (AI) initiatives match up with that of fellow Club name Nvidia (NVDA). With Starbucks, we’ll be looking to see how the coffee maker fared in China following the country’s economic reopening. Ford, meanwhile, has a lot to prove in the wake of its dismal fourth-quarter earnings. (Jim Cramer’s Charitable Trust is long MS, SBUX, AMD, F. 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.