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. U.S. stocks edged up slightly in midmorning trading Friday, with the S & P 500 up 0.1% and the Nasdaq Composite gaining 0.5%. The market lost steam after New York Federal Reserve President John Williams said Friday that the Fed is not “really talking about rate cuts right now,” adding that it’s “premature” to think about an interest-rate cut in March. Those comments came after the central bank had indicated Wednesday that it could cut rates three times in 2024. Bond yields moved up after Williams’ comments, even as that of the 10-year Treasury remained below 4% and down significantly on the week. As rates stabilize, the market is coming back to the Magnificent Seven stocks that sat out the rally the past two days. The fall in Treasury yields triggered a move into riskier stocks, but investors are returning to quality on Friday. Oil prices are slightly down, with West Texas Intermediate crude trading around $71 a barrel, but on track for their first weekly gains in two months. 2. Club holding Costco Wholesale delivered great quarterly results after the closing bell Thursday, including beats on the top and bottom lines. The company also announced a special cash dividend of $15 a share, a development we’ve long been waiting for. The news sent shares soaring by around 3.5% Friday, to roughly $653 apiece. But Jim Cramer urged investors “not to sell” their shares of Costco. “If it’s the best, why can’t you just hold it?” he said Friday. 3. It’s been a big week for stocks. Here are some of the top performers in the Club’s portfolio as of Friday morning: Broadcom , Morgan Stanley , GE HealthCare , Caterpillar and Footlocker . The stocks that have struggled included Eli Lilly , Humana , Alphabet , Procter & Gamble and Microsoft . We’ll unpack these in detail, along with the rest of the stocks in the portfolio, during our Monthly Meeting on Tuesday at 12:00 p.m. ET. (See here for a full list of the stocks in Jim Cramer’s Charitable Trust.) 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.
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