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 head for winning week Discipline with Eli Lilly Stick with Amazon 1. Equities on track for winning week The major U.S. stock benchmarks are on track for weekly gains amid a flurry of earnings reports. The Dow Jones Industrial Average on Friday added about 130 points, or 0.4%, while the S & P 500 climbed about 0.3%. The tech-heavy Nasdaq Composite was the laggard Friday, oscillating between minor losses and gains. But the Nasdaq is the best-performing index for the week, climbing nearly 0.6% so far, following strong quarterly results from Big Tech firms, including Club holdings Meta Platforms (META) and Microsoft (MSFT). The blue-chip Dow and S & P 500 are up for the week by nearly 0.5% and 0.4%, respectively. 2. Watch Eli Lilly The Club is looking to book some profits in pharmaceuticals giant Eli Lilly (LLY) when our trading restrictions are lifted. Eli Lilly stock— poised for its seventh consecutive weeks of gains — has rallied about 25%, to around $397 a share, since its 2023 low in early March. The stock has also climbed about 10% since the last time we trimmed our position , on April 4. “When you have a too-good-to-be true move, you must use it to trim back,” Jim Cramer said Friday. Our discipline as portfolio managers requires us to take some exposure off the table, he explained. But the Club continues to see a bright future ahead for Eli Lilly, which raised its full-year outlook this week. 3. Stick with Amazon Amazon (AMZN) stock fell about 4% Friday, to just over $105 per share, as investors fretted over management’s outlook for cloud unit Amazon Web Services (AWS), a key profit engine. After Amazon reported quarterly results Thursday, executives indicated AWS’s revenue growth slowed to about 11% in April , down from the roughly 16% growth seen in the first quarter. But Jim on Friday predicted AWS…
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