The CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream every weekday at 10:20 a.m. ET. On a recent Friday, U.S. stocks saw a boost as Wall Street reacted positively to a softer-than-expected jobs report, indicating that the Federal Reserve’s efforts to manage inflation are working. Jim Cramer noted that this data suggests the Fed is doing its job effectively. The market also saw gains from Club holding Apple stock, which surged more than 6% after the tech giant reported strong quarterly results and announced a record-breaking stock buyback. Coterra Energy shares also rose 2% following positive quarterly earnings, with higher profits and improved free cash flow attributed to oil production exceeding guidance and capital spending being lower than expected. Mizuho Securities analysts raised Coterra Energy’s price target to $37 per share, citing the company’s ability to surpass expectations.
However, Eli Lilly stock saw a 2% decline on Friday after competitor Amgen released positive interim trial data for its experimental weight-loss drug, causing Amgen shares to surge 12%. There is concern among investors that Amgen could pose a challenge to Lilly’s dominant position in the weight-loss drug market, but Cramer remains optimistic about Lilly’s defensive moat in the industry, including its direct-to-consumer platform for Zepbound, an anti-obesity drug. Cramer’s Charitable Trust is long on Coterra Energy, Eli Lilly, and Apple. Subscribers to the CNBC Investing Club with Jim Cramer receive trade alerts before Jim makes a trade, with a waiting period of 45 minutes after the alert is sent before executing the trade. If Jim has discussed a stock on CNBC TV, there is a 72-hour waiting period before making a trade. The information provided by the Investing Club is subject to terms and conditions, privacy policy, and disclaimer, and does not create a fiduciary obligation or guarantee specific outcomes or profits.
In summary, on a recent Friday, the market saw positive movements driven by a softer-than-expected jobs report and strong earnings reports from companies like Apple and Coterra Energy. While some stocks, like Eli Lilly, faced challenges from competitors, Cramer remains confident in the long-term prospects of certain holdings. Subscribers to the CNBC Investing Club with Jim Cramer receive trade alerts before trades are made, with specified waiting periods after the alerts are issued. The information provided by the Investing Club is subject to terms and conditions and does not guarantee specific outcomes. Cramer’s Charitable Trust is long on certain stocks, indicating his confidence in their potential for growth.
