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. Stocks were mostly higher on Friday, with the Dow slightly down, and the S & P 500 and Nasdaq higher. All the action was in the Nasdaq as chip stocks rallied for the 18th day in a row; this time, Intel’ s huge quarter and more than 20% stock pop is the fuel. While encouraged by the move in chips — especially for our newest position, Arm , which has been on fire — Jim Cramer said he’s not a big fan of Friday’s market. He feels it was too heavily weighted in tech, and would like to see a broader rally. Jim blames oil, which he said has not come down enough to get investors deploying capital into other areas. While the Morning Meeting was being recorded, news was breaking that the Justice Department dropped the criminal probe of Fed Chairman Jerome Powell , removing a hurdle to the confirmation of his would-be successor, Kevin Warsh . Earlier this week, the Senate Banking Committee held a hearing on Warsh’s nomination by President Donald Trump. 2. Ahead of next week’s earnings, Jim said, “We’re still recommending Corning.” He recognized that Corning stock has been on a tear, doubling year to date. Fiber-optic cabling, which is Corning’s bread and butter, is highly sought-after to replace copper in the age of AI data centers. Fiber runs fast and cooler, a winning combination for power-hungry data centers. We are anxious to hear if management has cut any more supply deals with hyperscalers. Supporting this year’s surge in Corning, Meta Platforms agreed back in January to pay up to $6 billion through 2030 to put Corning fiber in its AI data centers. 3. Nine other Club names are reporting earnings next week. Microsoft is one of them. Jim said he “wouldn’t sell” the software and cloud giant. He acknowledges the stock has hit a rough patch. But he thinks CEO Satya Nadella recognizes the problems and has begun to address them with a sense of urgency. Jim called Meta a “screaming buy,” saying CEO Mark Zuckerberg is balancing spending and efficiency. Meta on Friday cut a deal for Amazon Graviton CPUs, while confirming on Thursday sizeable layoffs. Meta, Microsoft, Amazon and Google parent Alphabet all report Wednesday night. (Jim Cramer’s Charitable Trust is long ARM, GLW, MSFT, META, AMZN. 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.
Our newest stock seems unstoppable — plus, why Cramer calls Meta a ‘screaming buy’
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