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. The S&P 500 fell more than 1% on Friday and is on pace to drop more than 2% for the week. Stock markets have been weighed down by concerns over AI trade valuations, the government shutdown and related reductions in air travel, and October’s massive layoffs. Meanwhile, a University of Michigan survey on Friday showed consumer sentiment is at its lowest level in more than three years as the shutdown drags on. “If we get some positive movement in terms of government reopening, we should see some kind of short-term rebound in the market,” said Jeff Marks, director of portfolio analysis at the club. Additionally, Nvidia shares fell more than 4% on Friday after CEO Jensen Huang said the company was not in talks to sell its scaled-down Blackwell AI chips to China. For a while, sales in China were not included in Nvidia’s outlook, but many investors held out hope that shipments might resume after some encouraging developments this summer. Although none of this has materialized yet, we maintain our long-held “own it, don’t trade” stance on chip stocks. Finally, club namesake Cisco and Disney are scheduled to report earnings next week. 2. Clubs that own Texas Roadhouse stock rose more than 1% on Friday despite a mixed third-quarter earnings report Thursday night. The steakhouse chain achieved better-than-expected same-store sales even as weak consumer spending hurts other restaurant operators. Additionally, comments from executives regarding October sales trends are encouraging against the backdrop of difficult conditions, and are likely contributing to the stock’s rise on Friday. However, management raised its outlook for commodity inflation as rising beef prices continue to weigh on profitability. Following the results, a handful of Wall Street firms reiterated buy ratings on the stock. Mizuho was one of them. Analysts said the company’s 2026 margin forecast is “de-risked.” 3. JPMorgan added GE Bellnova to its Analyst Watch List and placed the gas turbine maker on Active Catalyst Watch. Analysts argued that investor expectations were “relatively subdued” ahead of the company’s December 9 investor event, citing recent weakness in the club’s stock despite strong third-quarter results. JPMorgan, which rates the stock equivalent to buy, sees GE Vernova as “one of the highest quality ways” to capitalize on the AI data center boom. We couldn’t agree more. So we added a position on Thursday. (Jim Cramer’s Charitable Trust is long with CSCO, DIS, NVDA, TXRH, and GEV. See here for a complete list of stocks.) As a subscriber to Jim Cramer’s CNBC Investing Club, you’ll receive trade alerts from Jim Cramer before he 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.
