Every weekday, the CNBC Investing Club hosts a “Morning Meeting” live stream with Jim Cramer at 10:20 am ET. Here’s a recap of Friday’s key moments. The Fed isn’t ready to stop Investing Mantra reminder Looking to buy 1. The Fed isn’t ready to stop Stocks rose on Friday after a bumpy start after the personal spending index, the Federal Reserve’s preferred indicator of inflation, came in for the year year hotter than expected. This suggests that inflation is still not falling and that the Fed is not ready to stop tightening. The next piece of data that will help determine the Fed’s next move – in other words, whether it will hike rates by 25 or 50 basis points at its February meeting – is the December unemployment report. If unemployment falls to 4%, that will be good news for the central bank. 2. Stick to our investment mantra As we wrap up 2022, we remind investors of our mantra: buy stocks in companies that make things and do things for a profit, and return some of that cash back to shareholders. Find old-fashioned, boring stocks that are making money, weathering a possible recession, and showing sustainable growth. The stocks that have performed well this year also tended to report strong earnings and pay back dividends. While these aren’t the stocks investors typically like, they tend to do well. Defensive growth stocks in the club’s portfolio include Constellation Brands (STZ), Costco (COST) and Humana (HUM). 3. Look for buys With that in mind, we look for potential buys in this oversold market. However, we avoid trending stocks and instead look for stocks that are cheap relative to price-to-earnings. Cramer said he was tempted to review food stocks for potential purchases, noting that JM Smucker (SJM), Campbell Soup (CPB) and General Mills (GIS) are all companies that fit the club’s investment mantra. (Jim Cramer’s Charitable Trust has long been COST, HUM, STZ. For a full list of stocks click here.) As a subscriber to 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 any stock in his charitable foundation’s portfolio. When Jim spoke about a stock on CNBC television, he waits 72 hours after the trade alert is issued before executing the trade. THE ABOVE INVESTMENT CLUB INFORMATION IS GOVERNED BY OUR TERMS AND CONDITIONS AND PRIVACY POLICY ALONG WITH OUR DISCLAIMER. NO OBLIGATION OR OBLIGATION SHALL BE OR CREATED BY YOUR RECEIVING OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC RESULT OR PROFIT IS GUARANTEED.
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