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 in a special annual meeting edition. 1. The S & P 500 was lower Friday amid escalating tariff concerns. President Donald Trump announced a 35% tariff on some Canadian goods beginning Aug. 1, with a warning of an increase if the country retaliates. “[It’s] a bit of a surprise here because we thought that maybe they would be working toward a deal,” said Director of Portfolio Analysis for the Club Jeff Marks. The S & P Short Range Oscillator was still in overbought territory, which investors could also be using as an “excuse to do some profit taking,” Marks said. Jim Cramer said he has been itching to buy Cisco for the last three weeks. But it’s always a “big mistake” to violate the rule of buying in an overbought market, Jim said. Next week, we’re looking forward to big bank earnings, including quarterly reports from Club names Wells Fargo , Goldman Sachs , and BlackRock . 2. Morgan Stanley increased Amazon’s price target to $300 per share, about 35% upside, while keeping an overweight rating on shares. Analysts argue that Amazon is ready to see higher profitability since tariffs are now expected to be more manageable. They additionally outlined several reasons why its Amazon Web Services (AWS) cloud business will accelerate, including market share gains, and a growth contribution from its collaboration with artificial intelligence company Anthropic’s large language model. Jim said Morgan Stanley’s call “is resonating and taking the stock to a different level.” Shares of Amazon were up nearly 1.5% midday Friday to $225 per share. 3. Nvidia shares were still on the rise Friday following a historic week, becoming the first company to hit a $4 trillion market cap. Trump hosted Nvidia CEO Jensen Huang at the White House on Thursday ahead of Jensen’s trip next week to China. Last week, both Cadence and Synopsys won back the ability to export their AI design software to China. “Nvidia chips could be that olive branch towards China,” said Marks. “What they do want is the previous generation [of ]Nvidia [chips],” Jim added. “That meeting at the White House is very, very significant.” 4 . Starbucks stock dipped to roughly $95 apiece despite Stifel raising its price target to $105 from $92 and keeping its buy rating. Amid reports that the coffee giant is in talks with potential buyers for a stake in its China business, Stifel said securing a strategic partner in the world’s second-largest economy “should enhance Starbucks’ ability to gain share in a growing market.” At the same time, analysts “remain focused on the U.S. turnaround progress, viewing it as the primary catalyst for share appreciation over the next 12 months.” We hold the same view. Jim “feels very positive” about Starbucks CEO Brian Niccol’s strategy in China and recovering the core U.S. business. While it will take time, so far, Jim feels “terrific about the turn” and remains confident given Niccol’s industry experience as a turnaround artist. 5. Stocks covered in Friday’s rapid fire at the end of the video were Levi Strauss & Co ., T-Mobile , Texas Instruments , Cloudflare , and Axon . (Jim Cramer’s Charitable Trust is long AMZN, GS, NVDA, SBUX, WFC. 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.
