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. 1. The S & P 500 is higher Friday, bouncing back from Thursday’s sell-off but still on pace for its second weekly decline in a row. Amazon led the gains, up nearly 7% following strong earnings a night earlier. Its advance is helping offset Apple’s less-than-1% dip after the iPhone maker’s own earnings report. A weaker-than-expected jobs report Friday further increased the likelihood of an interest rate cut by the Federal Reserve next week, with traders pricing in 100% odds of a quarter-point cut, according the CME’s FedWatch tool. Jim Cramer said the potential rate cuts next week and possibly again in December provide a “bullish backdrop” for the overall market, favoring many of our stocks that benefit from lower rates. 2. Our trusted S & P Short Range Oscillator moved into oversold territory, signaling an opportunity to make some buys. Although we’re currently restricted, Advanced Micro Devices is a stock on our radar after falling as 16% since Oct. 9. We see CrowdStrike as another potential buy, given the stock, at roughly $302 a share Friday, is trading a little bit below our cost basis of $307.08. One stock we were able to act on Friday is new holding BlackRock , which also is below our basis. 3. Amazon stock surged Friday after company’s earnings topped estimates Thursday night. Amazon Web Services, its longtime profit engine, saw revenues grow 19% year over year and essentially matched estimates, while margins across the company were better than expected. Profitability was helped by improved efficiencies, slowed hiring and reduced costs to serve in logistics. Crucially, strong margin performance eased investor worries around aggressive spending on artificial intelligence. Jim also highlighted Amazon’s Europe business, which is inflecting after being bogged down by the economic consequences of the war in Ukraine. It would be “amazing to see Europe being a growth market again,” Jim said. 4. Stocks covered in Friday’s rapid fire at the end of the video were: Chevron , Exxon , Intel , Wayfair , and Atlassian . (Jim Cramer’s Charitable Trust is long AMZN, AAPL, AMD, CRWD, BLK. 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.
Jim Cramer has these 3 stocks on his buy list in an oversold market
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