Jim Cramer sees opportunities in Friday’s ugly market. Here’s where he is looking
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. Stocks fell Friday as the war in the Middle East escalated. The S & P 500 and Nasdaq were both off roughly 1% after President Donald Trump said Friday there would be no deal to end the U.S. war against Iran without an “unconditional surrender” by Iran. Despite continued uncertainty, Jim Cramer believes the “end-of-the-world view” has gone too far and sees buying opportunities in this “ugly market.” Jim called out Goldman Sachs , Cardinal Health and Boeing as stocks to pick up in Friday’s downbeat session. We made good on that with our fourth Cardinal Health purchase of the week after starting a position Monday . While we’re restricted on Goldman, we upgraded the stock to a buy-equivalent 1 rating. We aren’t making a trade on Boeing, but Jim said he likes it because its ties to the travel economy have weighed on shares this week despite making progress on its turnaround. Jim said he also likes Nvidia down 1% Friday ahead of its annual GTC conference starting March 16. 2. Oil prices on Friday reached their highest levels since April 2024 as the war sparks supply disruption concerns. Gas prices in the U.S. are already reflecting the climb, and that benefits Costco thanks to its reputation for offering the lowest gas prices around. “When gasoline goes up rapidly, people go to Costco,” Jim said. People who drive an extra mile to Costco for gas may be inclined to go into the warehouse and make other purchases. Shares of the membership-only retailer advanced 1% Friday, a day after the company reported solid quarterly earnings . We liked seeing momentum in comparable sales, which shows it’s clearly taking market share from other retailers. We’re still waiting for membership renewal rates in the U.S. and Canada to stabilize, though. Following the print, we kept our hold-equivalent 2 rating on the stock but increased our price target to $1,100 from $1,050. 3. The pain in financial stocks continues Friday as the recent spike in private credit redemptions continues to weigh on sentiment. Oil and questions about the health of the economy are also headwinds for this group. Goldman and fellow Club names Capital One and Wells Fargo are all down Friday. We are, at least, avoiding pain in BlackRock on Friday, with the asset manager’s shares down nearly 6% after it decided to limit withdrawals from one of its private credit funds. We exited the position earlier this week due to pressure on the private markets industry. “Sometimes it’s better to be lucky than good,” Jim said. “I just didn’t like the way it acted.” 4. Stocks covered in Friday’s rapid fire at the end of the video were: Marvell Technology , Palantir , Gap , CoreWeave and Dow Inc . (Jim Cramer’s Charitable Trust is long GS, BA, CAH, COST, BLK. 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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