Cramer would not sell Meta Platforms on WSJ report: 'I still like it very much'
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. The stock market is higher on Friday and pacing for a five-day winning streak. The S & P 500 is on track to gain more than 4% this week. Interest rates are finally on the descent, with the 10-year Treasury yield floating around 4.4%. "We're in such a dynamic time when things are changing constantly day over day," said Jeff Marks, director of portfolio analysis for the Club. The S & P 500 Oscillator moved further into overbought territory, which signals the market could be due for a pullback. 2. The CEO of Coterra Energy spoke with Jim Cramer on "Mad Money" Thursday . "I feel very good about it because they're switching a little more to natural gas," Jim said, explaining that while he doesn't want to own an oil-and-gas stock, company leaning more toward gas is preferable. Coterra recently faced some operational issues that Jorden reiterated would be resolved soon and said were not related to inventory. Despite the reassurance, Jim said, "I can't get behind the [oil stock] group." Jeff highlighted the latest oil industry woes as factors going against Coterra. 3. Meta shares are down again Friday after dipping Thursday following a report in The Wall Street Journal that it is delaying the roll out of its flagship AI language model called "Behemoth." Separately, analysts at Loop Capital raised their price target on the company to $888 from $695, and increased their forecast for a better-than-expected second quarter. "There are so many irons in the fire for Meta, I would not sell on this," advised Jim. "I still like it very much." 4 . Stocks covered in Friday's rapid fire at the end of the video were: Applied Materials , Cava , and Take-Two Interactive . (Jim Cramer's Charitable Trust is long . 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.
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