Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap off Friday’s key moments. 1. The stock market rose Friday, with all three major indexes hitting fresh intraday record highs. Cooler-than-expected inflation data boosted investor optimism that the Fed will keep cutting rates to help the economy. “We’ve got another good day,” said Jim Cramer, who noted the relatively unchanged 10-year Treasury yield. Nevertheless, Jim said, “What “I’m not crazy about is that the [S & P] Oscillator’s at 2.4. That’s going to cause me to look at things that we might want to sell.” The Oscillator is Jim’s trusted momentum indicator, and a reading above 4 indicates the market is overbought. Looking ahead, 10 Club names will report next week: Amazon, Apple , Bristol Myers Squibb , Boeing , Corning , Eli Lilly , Linde , Meta , Microsoft , and Starbucks . The Federal Reserve’s October policy meeting also wraps up Wednesday. 2. Jim projects that Capital One shares are going to $250 apiece. “This is still my favorite stock in the portfolio, even though it’s come up huge from when we bought it,” Jim said. The Club initiated its first position in Capital One back in March at around $178 a piece. It’s trading around $225 each Friday. The stock recently took a hit as credit-quality concerns weighed on global banks, but a strong quarterly report eased those worries. “We haven’t even seen the amalgamation of the two banks and what they’re going to do,” said Jim, referencing Capital One’s acquisition of Discover. 3. As for GE Vernova , Jim believes the stock is consolidating before another moonshot. “This stock is a rocket ship,” said Jim, comparing the energy company’s chart pattern to that of Alphabet , AMD , and Oracle before those stocks mounted major rallies. Jim reminded investors that GE Vernova is in a prime position to support the energy infrastructure demand of the AI trade. The stock got dinged Wednesday after reporting earnings , but erased all those losses Thursday. “After speaking with [CEO] Scott Strazik, I realized no one really has any ability to make the grid produce more electricity other than GE Vernova,” he said. 4. Stocks covered in Friday’s rapid fire at the end of the video were: Intel , Ford Motor , Procter & Gamble , Coinbase , and Target . (Jim Cramer’s Charitable Trust is long AMZN, APPL, BMY, BA, COF, GEV, GLW, LLY, LIN, META, MSFT, SBUX 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.
Cramer says this financial name is still his favorite stock — and GE Vernova’s prime position
