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 Friday’s key moments. Strong tech earnings and a pause in rising bond yields put Friday’s market on pace to reverse the prior session’s losses and then some. The culprits Thursday were Meta Platforms ‘ earnings-driven stock slide and the latest GDP data, which showed a sharp slowdown in growth. The catalysts Friday were better-than-feared inflation numbers from the Federal Reserve’s favorite price measure and blowout quarters from Alphabet and Microsoft , which also showed big checks going to fellow Club name Nvidia to further their artificial intelligence efforts. Shares of AI chip powerhouse Nvidia rose 4% on Friday and 13% this week. The Nasdaq was up more than 2% on Friday. Alphabet’s quarter silenced the bears . Shares jumped roughly 10% one day after Thursday evening’s killer quarter. The Club had been frustrated with Alphabet shares going into the print. But Jim Cramer said Friday that he “asked for granularity and we got it.” Lots to like from fixing the cost structure to Search and YouTube beats to easing concerns about generative AI. Alphabet announced its first-ever dividend and a big $70 billion stock buyback. We boosted our Club price targets on both Alphabet and Microsoft but kept our 2 ratings on each. Microsoft shares were up 2.5% on Friday, following an after-the-bell quarterly report that showed clean 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 under promises and over delivers on its outlooks. Microsoft said personal computer volumes were better than management’s expectations. Jim said Friday he’s considering buying more Best Buy shares on the comeback in PCs. Best Buy is the Club’s newest position and we’ve been scaling up our position . (Jim Cramer’s Charitable Trust is longNVDA, META, MSFT, GOOGL, BBY. 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.
