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 hit a new record high on Friday as investor optimism builds that trade deals are coming. The U.S. and China confirmed an agreement that would allow for rare earth exports along with easing of technology restrictions. Core PCE, the Federal Reserve’s favorite measure of inflation, came in slightly ahead of expectations and bond yields are unchanged. “Basically, the data is not going to impact the market,” Jim Cramer said. “We continue just to levitate higher in the market, [with] a lot of it being driven by AI,” said Jeff Marks director of portfolio analysis for the Club. Magnificent Seven stocks are also making a big comeback, with portfolio name Amazon now in positive territory for the year. We took some profits in Disney Friday morning with the stock’s return this year double that of the S & P 500. 2. Capital One acquisition of Discover puts it in a position to make more money from debit cards than its peers, according to a report in The Wall Street Journal. And yet, Capital One still trades at a major discount to rival American Express . “I think people should still be buying the stock,” Jim said. The Club initiated a position in Capital One back in March, with a $250 price target. 3. Piper Sandler named Meta a top large cap pick and raised its price target on shares to $808 from $650. According to the analysts, Meta’s AI investments are transforming advertising technology with tools that can push mid-teen revenue growth for multiple years. We recently wrote about the secret AI sauce behind Meta’s huge stock rally since 2022. “It’s my favorite right now of the mega caps,” Jim said. “I don’t think people realize how powerful this [Meta’s ad tech] is.” 4. Stocks covered in Friday’s rapid fire at the end of the video were: Nike , JP Morgan , Bank of America , and Molson Coors . (Jim Cramer’s Charitable Trust is long AMZN, COF, DIS, META. 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.
