Jim Cramer's CNBC Investment Club hosts a live Morning Meeting every weekday at 10:20 a.m. ET. Here's a look at Friday's key moments: U.S. stocks rose Friday after the Personal Consumption Expenditures Price Index, a key economic indicator for the Federal Reserve, showed inflation easing in May. All three major stock indexes rose about 0.3%. Jim Cramer called the Personal Consumption Expenditures Price Index report “very good,” a positive sign that the central bank's inflation-fighting measures are working. Jim also suggested that Friday's buying in the market may be coming from the view that Thursday night's presidential debate increases the chances that Donald Trump will retake the White House. Friday's closing price marks the end of the first half of 2024. The Nasdaq leads the way, up 19% in the first and second quarters. The S&P 500 is up 15% year to date, while the Dow is up just 4%. Apple on Friday launched its Vision Pro spatial computing headset in key markets including China, Hong Kong and Japan, a few months after its U.S. launch. Jim had previously argued that Vision Pro could certainly contribute to the company's bottom line as more companies adopt it for enterprise use cases. The device's ability to stream Nvidia's Omniverse platform also supported his optimism. But investors will need to temper their expectations for now. “Apple has seen the product being used in the enterprise,” he said, citing Lowes' use of Vision Pro for immersive kitchen design as an example.[But] “You're not going to see much more of that right now, especially with Nvidia,” he said. Raymond James initiated coverage on Eaton with a buy rating, arguing that the electrical equipment supplier's exposure to data centers and aerospace should support strong organic growth through 2025. The analyst issued a $375 per share target price, implying a 19% upside from Thursday's closing price. Jim agreed with the view, saying Dover is another high-quality data center stock as investments in artificial intelligence fuel the construction of new computing facilities. “Remember, we think Eaton and Dover are the best two,” he said on Friday. (Jim Cramer's Charitable Trust is long DOV, ETN, AAPL, NVDA. See the full list of stocks here.) Subscribers to Jim Cramer's CNBC Investment Club receive trade alerts before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling shares of the Charitable Trust. The Trust's portfolio. If Jim talks about a stock on CNBC TV, we will wait 72 hours after issuing a trade alert before executing the trade. The above Investment Club information is subject to our Terms of Use and Privacy Policy and Disclaimer. Receipt of any information provided in connection with the Investment Club does not create any fiduciary duty or obligation. No specific results or benefits are guaranteed.
