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 stock market has been extremely volatile Friday, seesawing between gains and losses. The S & P 500 marched toward a positive week despite Thursday’s nasty sell-off. That’s because of Wednesday’s historic rally on President Donald Trump’s announcement of reduced global tariffs for 90 days for most imports except from China. The back and forth with China escalated again on Friday. Investors are getting concerned as bond yields continue to rise. Jim Cramer said this is “going to be negative for our stock market.” Like Thursday’s consumer price index, the March producer price index on Friday came in cooler than anticipated. However, consumer sentiment continued to tumble as inflation fears spiked, according to the University of Michigan’s April survey. 2. Trade tensions are ongoing as China issued another round of retaliation, increasing tariffs on imported U.S. goods to 125%, up from 84%. China’s Semiconductor Industry Association clarified that tariffs on chips will be based on manufacturing location and not where they are shipped from. Club names Broadcom and Nvidia saw a nice bounce on the news. Overall, it’s difficult for two of the world’s largest economies to maintain their business relationship with tariffs over 100% on each side. Tesla reportedly paused orders in China for electric vehicles imported from the U.S. Five Below has followed suit, asking vendors to turn Chinese-made products away because of heightened tariffs. Jim also said that Club name Apple is a hard stock to own right now. 3. Major financial institutions, including Club holdings Wells Fargo and BlackRock began reporting earnings on Friday. Wells Fargo slightly missed expectations on first-quarter revenue. Jim is hopeful that the bank will get its Fed-imposed asset cap lifted, saying it would send investors flocking to the stock. Wells Fargo shares were losing about 3% on Friday. He said the stock should be doing better. BlackRock also reported Q1 results with a small miss on revenue. The company said it had the best start of the year since 2021. Jim also said this stock, which was up about 1%, should be doing better but acknowledged that “the overall market is not a good market right now.” (Jim Cramer’s Charitable Trust is long NVDA, AVGO, BLK, WFC. 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.
