Jim Cramer’s CNBC Investment Club hosts a “Morning Meeting” livestream weekdays at 10:20 a.m. ET. A recap of Friday’s key moments. 1. Stock prices fell on Friday as the war in the Middle East escalated. The S&P 500 and Nasdaq both fell about 1% on Friday after President Donald Trump said there was no deal to end the U.S. war against Iran without Iran’s “unconditional surrender.” Despite continued uncertainty, Jim Cramer believes the “end-of-the-world view” is overdone and sees buying opportunities in this “ugly market.” Jim cited Goldman Sachs, Cardinal Health, and Boeing as stocks that will rise in Friday’s bearish market. After initiating the position on Monday, I successfully accomplished that with my fourth purchase of Cardinal Health this week. Although investment in Goldman is restricted, it raised its rating on the stock to “1,” the equivalent of a “buy.” We’re not trading Boeing, but Jim said he likes it because its relationship with the travel economy has weighed on the stock this week, even as the rebuild progresses. Jim also said he likes that Nvidia is down 1% on Friday ahead of its annual GTC conference, which begins March 16th. 2. Oil prices on Friday hit their highest level since April 2024, sparking fears of supply disruptions from the war. U.S. gas prices are already reflecting increases, and Costco is benefiting from its reputation for offering the lowest gas prices around. “When gas prices skyrocket, people go to Costco,” Jim said. People who drive extra to Costco to buy gas may be more likely to go into the warehouse and make other purchases. The membership retailer’s stock rose 1% on Friday, a day after the company reported solid quarterly profits. We were pleased to see comparable sales momentum, which shows that it is clearly taking market share from other retailers. However, we are still waiting for membership renewal rates in the US and Canada to stabilize. Post-print, we maintained our rating on the stock with a Hold Equivalent of 2, but raised our price target from $1,050 to $1,100. 3. The pain in financial stocks continued on Friday as the recent surge in private credit redemptions continues to weigh on sentiment. Questions about oil and the health of the economy are also a headwind for the group. On Friday, Goldman’s namesake, Capital One, and Wells Fargo fell across the board. At least we’re getting away with it, as BlackRock’s stock price fell nearly 6% on Friday after it decided to restrict withdrawals from one of its private credit funds. We exited our position earlier this week due to pressure on the private markets industry. “Sometimes luck is better than luck,” Jim said. “I just didn’t like the way it worked.” 4. The stocks featured at the end of Friday’s video were Marvell Technologies, Palantir, Gap, Coreweave, and Dow. (Jim Cramer’s charitable trusts are Long GS, BA, CAH, COST, BLK. See here for a complete list of stocks.) As a subscriber to Jim Cramer’s CNBC Investment Club, you will receive trade alerts before Jim makes a trade. After Jim sends a trade alert, he waits 45 minutes before buying or selling stocks in his charitable trust’s portfolio. If Jim talks about a stock on CNBC TV, he will issue a trade alert and then wait 72 hours before executing the trade. The above investment club information is subject to our Terms of Use and Privacy Policy, along with our disclaimer. No fiduciary duties or obligations exist or arise from your receipt of information provided in connection with the Investment Club. No specific results or benefits are guaranteed.
