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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. Despite modest Friday gains, Wall Street was still on track to break a nine-week winning streak. Bond yields initially jumped after a stronger-than-expected jobs report dimmed the odds somewhat for a March interest rate cut from the Federal Reserve. Yields later in the morning steadied — lending support to the Dow , the S & P 500 and the Nasdaq . “There’s nothing you can do” about this resilient job market, Jim Cramer said Friday, shortly after the December employment report was released. “It’s a great economy,” he added. 2. This week’s selling is taking a breather Friday as investors look for stocks that “are not that expensive and can go higher,” Jim Cramer said. That means the Magnificent Seven are not so magnificent in the early days of the new year. Investors are taking some profits on these amazing 2023 winners. We even took some tech off to kick off the new year. Still, Jim said Club name Meta Platforms , which nearly tripled last year, is the cheapest on a valuation basis of the Magnificent Seven. The Meta-enabled Ray-Ban sunglasses are interesting. 3. It’s another day and another round of top picks for 2024 on Wall Street. Truist and Mizuho like Nvidia , our top Club performer last year ahead of Meta. Wells Fargo and Stifel both name Club holding Wynn Resorts . Everyone kind of decided Wynn is cheap, Jim said. Wells Fargo analysts pointed out that Macau gambling stocks, including Wynn, have seen their estimates for 2024 rise 15%. But their stocks are trading at about 10% below their historical average. (Jim Cramer’s Charitable Trust is long META, NVDA, WYNN. 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.
