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. Stocks are mixed Semi slide persists Patient on SWK 1. Stocks mixed on inflation data The S & P 500 and Nasdaq Composite fell Friday, as both U.S. stock benchmarks are on pace for a second straight week of declines. The Dow Jones Industrial Average, meanwhile, added about 80 points, or 0.24%, on Friday, as the blue-chip index heads for modest weekly gains. Markets are digesting a higher-than-expected July wholesale inflation reading , but beneath the surface the data is less troubling than at first blush. That’s because a sizable portion of the overall increase is tied to 7.6% jump in prices for portfolio management, which is not a long-term concern. 2. Semi slide persists Semiconductor stocks are under pressure again Friday, including Club holdings Advanced Micro Devices (AMD) and Nvidia (NVDA). Both stocks fell more than 1%, bringing their week-to-date losses to more than 6%. The VanEck Semiconductor ETF (SMH), which tracks 25 of the largest U.S.-listed chip stocks, is heading for its fourth-straight session of declines. Profit-taking may be among the factors driving the selling, given the big gains chip stocks have seen this year. Even with its recent declines, the SMH entered Friday’s session up more than 47% this year.” AMD is a fairly small position for us, while Nvidia is one of our two “own it, don’t trade it” stocks in the portfolio. That mantra for Nvidia is still intact despite the recent pullback. Jim Cramer has acknowledged the near term for Nvidia, which entered August up over 200% for the year, is somewhat challenging. 3. Be patient with SWK Additional weakness in shares of Stanley Black & Decker (SWK) would give us another chance to add to our position in the toolmaker, according to Director of Portfolio Analysis Jeff Marks. We did so Tuesday , and the stock has come in a bit more since then, including on Friday after Wolfe Research downgraded it to underperform from peer perform. The firm said its revised outlook on the stock is “largely a valuation call,” contending that recession risks are not appropriately priced in, nor are potential risks to margins next year. In our minds, the primary reason we invested in the Craftsman and DeWalt owner is its plan to correct for post-Covid woes, and the company’s earnings report Aug. 1 demonstrated that turnaround story is in full swing . In fact, Stanley Black & Decker appears to be ahead of schedule, and we have no reason to doubt management as of now. (Jim Cramer’s Charitable Trust is long SWK, AMD and NVDA. 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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