Jim Cramer’s CNBC Investment Club hosts a “Morning Meeting” livestream weekdays at 10:20 a.m. ET. A recap of Friday’s key moments. Stocks were mixed on Friday, with the Dow Jones Industrial Average rising toward its eighth consecutive session in the green. The S&P 500 rose about 0.8% below its all-time high set in March on Friday, but was flat. The tech-heavy Nasdaq fell. “It’s a quiet, incredibly bull market because it’s so diverse,” Jim Cramer said. “This is not a bull market led by Amazon or Alphabet, but they’re doing well, but we’ve got a strong market overall.” But Jim says, “It’s finally gotten to the point where it’s too bought to buy. ” In light of this, they are looking to cut some of the companies that have performed well, such as Procter & Gamble, which hit another all-time high on Friday. After falling on Thursday, chip stocks were mostly higher in the final session of the week, led by a boost from Taiwan Semiconductor Manufacturing. Sales in April were strong. The semiconductor manufacturing giant’s monthly management update noted continued demand for artificial intelligence chips. Shares of the club that owns NVIDIA, the leading AI chip designer and TSMC’s main customer, rose 1.2% on Friday. Broadcom, which shares the club name and also operates an AI chip business, rose 2%. “Broadcom is not on anyone’s radar screen…but Broadcom is going to break out here, and that’s what he might have to cut next when he gets to $1,400.” [per share]” said Jim. The stock traded at about $1,330 per share on Friday. Meanwhile, Alphabet fell about 1.1% in Friday’s session, making it the worst-performing club holding as Google’s parent company faces a number of backlash. More recently, Reuters reported that Microsoft has also surfaced a Bloomberg News report that said Alphabet was in talks to buy HubSpot, which makes customer management software and other marketing tools. , noted that it plans to announce a search engine product on Monday, which will be backed by the developers of ChatGPT. “HubSpot is an incredibly expensive stock, which would be highly unusual for Alphabet,” said Jim (The Jim Cramer Charitable Trust is Long PG, NVDA, AVGO, GOOGL, MSFT). See here for a complete list of Jim and Cramer as a CNBC Investment Club subscriber, you will receive trade alerts before Jim makes a trade. Before Jim buys or sells stocks in a charitable trust’s portfolio, he waits 45 minutes after sending a trade alert. When Jim talks about his stocks on his CNBC TV, he says he waits 72 hours. After issuing a trade alert and before executing a trade, the above investment club information will be subject to our Terms of Use and Privacy Policy, and together with our disclaimer, your receipt of the information will not result in any fiduciary duties or obligations. does not exist. It is provided in connection with an investment club and no specific results or profits are guaranteed.
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