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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. Chance to buy WFC Don’t sell oversold market Adding Disney shares 1. Chance to buy Wells Fargo Wells Fargo (WFC) on Tuesday agreed to a $3.7 billion settlement with the Consumer Financial Protection Bureau over past customer banking practices. Wells Fargo had already put aside a large chunk of that. The settlement is certainly a big number but shows the bank is making progress in putting the worst time in company history behind it. The stock was down almost 3% in the premarket right after the announcement, but it was up and down after the open. Jim Cramer sees Wells Fargo shares as a buy at these levels, saying the bank’s “tremendous balance sheet” should allow it to cover the settlement costs and related legal fees. 2. Don’t sell oversold market The stock market overall was mixed Tuesday after four straight losing seasons for the Dow Jones Industrial Average , the S & P 500 and the Nasdaq Composite . We advise against selling this oversold market — and if you’re waiting to buy, there might be opportunities coming up, especially around Thursday, ahead of a seasonal Santa Claus rally . On Wall Street, the term Santa Claus rally refers to the final five trading days of the year and the first two of the new year. It’s a seven-day stretch over which the S & P 500 has historically tended to climb. 3. Adding Disney shares In an oversold market, our discipline tells us to look for buying opportunities. After a sharp drop Monday, we decided it was a good time to add 75 more shares of Disney (DIS). Moreover, we remain optimistic about Disney’s ability to unlock value. Wells Fargo analysts, in a research note Tuesday, predicted the entertainment giant would spin off ESPN, its associated cable networks and ABC next year. We don’t know what Bob Iger, who just returned as CEO, has planned. But a spin-off would be one way to help fix the company’s disastrous balance sheet. (Jim Cramer’s Charitable Trust is long WFC, DIS. 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.
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Image and article originally from www.cnbc.com. Read the original article here.