S&P 500 tries to hang onto gains ahead of big events next week that could move 3 stocks
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 S & P 500 was up for the fourth straight session Friday, which would lock in back-to-back positive weeks. The index was trading less than 1% below its record-high close of 6,890 on Oct. 28. The government shutdown-delayed core September personal consumption expenditures price index was released on Friday morning, showing a 2.8% year-over-year increase, which was a smaller gain than expected. Core PCE is the Federal Reserve’s favorite inflation gauge. The latest University of Michigan consumer survey showed improving sentiment. Neither report changed market expectations for a Fed interest rate cut at next week’s meeting. 2. Mizuho reiterated Broadcom as its top pick and made a bold call, saying to buy shares ahead of next Thursday’s earnings. The Club stock was more than 5.5% away from its record-high close of nearly $403 on Nov. 28. Mizuho said that expanding reach of tensor processing units to cloud service providers and neoclouds creates upside for 2026. TPUs are Google’s custom AI chips that Broadcom co-designed. Oppenheimer raised its Broadcom price target to $435 from $400 and kept its buy rating, with analysts expecting a strong quarter and outlook. 3. There are two more things we’re watching in the week ahead. On Tuesday evening, GE Vernova holds an investor meeting. Given recent strength in orders and demand expectations for gas turbine and electrification products and services, many analysts expect management to raise its guidance for 2025 – and maybe even for next year. The company is also expected to hike its long-term 2028 outlook. After Thursday’s close, along with Broadcom, Costco reports earnings. The stock rose modestly Friday after a nearly 3% drop in the prior session on what was viewed as disappointing November sales. We didn’t think they were that bad. (Jim Cramer’s Charitable Trust is long AVGO, GEV, COST. 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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