The CNBC Investing Club with Jim Cramer hosts a “Morning Meeting” livestream every weekday at 10:20 a.m. ET where key moments from the market are discussed. On a recent Friday, U.S. stocks saw a significant jump as Wall Street reacted positively to a softer-than-expected jobs report, indicating that the Federal Reserve’s efforts to control inflation are working. Jim Cramer noted that the report suggested the Fed is doing its job effectively. Market gains were also driven by Club holding Apple stock, which saw a more than 6% increase after the company reported better-than-expected quarterly results and announced a record-breaking stock buyback. Coterra Energy shares also rose 2% following strong quarterly earnings, with Mizuho Securities analysts raising their price target for the company.
However, not all stocks fared well on Friday. Eli Lilly stock declined 2% after competitor Amgen teased positive interim trial data for its experimental weight-loss drug, causing concern among investors about Amgen potentially challenging Lilly’s dominant position in the weight loss drug market. Despite this, Jim Cramer expressed confidence in Eli Lilly’s position due to its strong market presence and defensive strategies, such as its direct-to-consumer platform for its anti-obesity drug Zepbound. Overall, the Club’s holdings in Coterra Energy, Eli Lilly, and Apple remained stable despite the market’s fluctuations.
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In summary, the CNBC Investing Club with Jim Cramer discussed key market moments during its “Morning Meeting” livestream, highlighting positive gains in U.S. stocks driven by favorable economic data and strong performances from Club holdings such as Apple and Coterra Energy. Despite challenges faced by some stocks like Eli Lilly due to competitor activity, Jim expressed confidence in the company’s market position. Subscribers to the Investing Club receive trade alerts before Jim makes any trades, with specific guidelines in place for when and how trades are executed. It is important for members to be aware of the terms and conditions, privacy policy, and disclaimer associated with the Investing Club’s information.
