Every weekday, the CNBC Investing Club with Jim Cramer will host a “Morning Meeting” live stream at 10:20 AM ET. Here’s a recap of Friday’s key moments. Beware Tech Stocks He Waits to Buy Constellation Sticks at Wells Fargo The S&P 500 rose 1.6% in morning trading. But Jim Cramer warned on Friday that investors should still be wary of megacap tech stocks. , outperform or buy, citing concerns that consumers will trade in alcoholic beverages as the economy slows. We still like the stock, though, as beer makers continue to gain market share while flexing their pricing power.Thursday’s Constellation reported weaker Q3 2023 earnings, and the stock’s reported a drop of nearly 10% of his. But in Friday morning trading, the stock rose nearly 3% to about $215 a share. Investors are advised to refrain from purchasing STZ until the confusion subsides. 3. Wells Fargo Deutsche Bank on Thursday cites concerns over macroeconomic headwinds and weakening bank fundamentals as JPMorgan (JPM), Bank of America (BAC) and Troist (TFC) Downgraded the rating from buy to hold. But not all banks are created equal, and Wells Fargo (WFC) remains a great stock to own despite analyst concerns about the financial sector as a whole. . With many banks struggling to control expenses, Wells Fargo is in a better position than its competitors as it navigates a multi-year restructuring plan. (Jim Cramer’s Charitable Trust is Long his STZ, WFC. See here for a full list of stocks.) As a member of Jim Cramer’s CNBC Investing Club, before Jim makes a trade, Receive an alert. Jim waits 45 minutes after sending a trade alert before buying or selling shares in his charitable trust portfolio. If Jim talks about his stock on his CNBC TV, he will wait 72 hours after issuing a trade alert before executing the trade. The investment club information above is subject to our Terms of Use and Privacy Policy, along with our disclaimer. No fiduciary duty or obligation exists or is created by your receipt of information provided in connection with The Investment Club. No specific results or benefits are guaranteed.
