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. Buying health stocks DHR as a China reopening play Tech cutting costs 1. Buying health stocks on the dip Health-care stocks were down on Friday, together with other defensive names, as investors continued to purchase up shares of technology corporations on hopes the Federal Reserve will dial back its pace of rate of interest hikes. Consequently, we consider that at once is a fantastic opportunity to purchase health-care stocks on the dip, and recommend Johnson & Johnson (JNJ). Nevertheless, we caution investors to exercise discipline when picking up shares of the stock. “For example you are latest to the Club and you should buy 200 shares of Johnson & Johnson. Buy 100 now, after which wait to see if it doesn’t go down $10, after which buy the second half,” Jim Cramer said Friday. JNJ was trading down greater than 3% midmorning, at roughly $169 a share. 2. DHR as a China reopening play China eased some Covid-19 restrictions on Friday, and Club names with business within the country including Starbucks (SBUX), Wynn Resorts (WYNN) and Estee Lauder (EL) jumped. While we now have previously highlighted those three stocks as great plays for when China abandons its zero-Covid policy – Estee Lauder is our favourite – Club holding Danaher (DHR) also does significant business in China. The stock climbed greater than 1% Friday, to around $271 a share, suggesting it’ll be a core stock to own when China’s economy reopens. 3. Tech cutting costs Amazon (AMZN) is performing a review of cost cuts and considering find out how to manage unprofitable businesses like Alexa, in line with The Wall Street Journal . The report comes days after Meta Platforms (META) laid off over $11,000 employees . While we do not know yet whether Amazon will let go of staff, we expect some Big Tech corporations will likely follow in Meta’s footsteps to regulate balooning costs. (Jim Cramer’s Charitable Trust is long AMZN, SBUX, WYNN, DHR, EL, JNJ,. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you’ll 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 a couple of 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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