Every weekday, CNBC Investing Club with Jim Cramer hosts a “Morning Meeting” live stream at 10:20 a.m. ET. Here’s a recap of Friday’s key moments. Strong earnings in the technology sector and a pause in rising bond yields helped Friday’s market reverse losses from the previous session and then some. The culprits on Thursday were a profit-driven decline in Meta Platforms shares and the latest GDP data, which showed a sharp slowdown in growth. The catalysts Friday were better-than-expected inflation numbers from the Federal Reserve’s preferred price measure and blowout quarters from Alphabet and Microsoft, which also showed big checks going to another name in the club, Nvidia, to continue their efforts in artificial intelligence. Shares of AI chip powerhouse Nvidia rose 4% on Friday and 13% this week. The Nasdaq was up more than 2% on Friday. “Alphabet District has silenced the bears”. Shares jumped about 10% a day after Thursday night’s bruising quarter. The Club had been frustrated by the publication of Alphabet’s actions. But Jim Cramer said Friday that he “asked for granularity and we got it.” Lots to like, from fixing the cost structure for search beats and YouTube to easing concerns about generative AI. Alphabet announced its first-ever dividend and a major $70 billion stock buyback. We increased our Club price targets on Alphabet and Microsoft, but kept our 2 ratings on each. Microsoft shares rose 2.5% on Friday, following a quarterly after-the-bell report that showed clear beats on every line item we care about. The revenue guide was a little light, but Azure cloud growth is expected to remain strong. The company usually fails to deliver on its promises and delivers beyond its prospects. Microsoft said personal computer volumes were above management’s expectations. Jim said Friday he plans to buy more Best Buy stock when PCs come back. Best Buy is the Club’s newest position and we have expanded our position. (Jim Cramer’s charitable fund is longNVDA, META, MSFT, GOOGL, BBY. See here for a complete list of stocks.) As a subscriber to CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim n ‘performs a transaction. . Jim waits 45 minutes after a trade alert is sent before buying or selling a stock in his charity’s portfolio. If Jim talked about a stock on CNBC TV, he waits 72 hours after the trade alert is issued before executing the trade. THE ABOVE INVESTMENT CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY, AS WELL AS OUR DISCLAIMER. NO OBLIGATION OR FIDUCIARY OBLIGATION EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTMENT CLUB. NO SPECIFIC RESULTS OR PROFITS ARE GUARANTEED.
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