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. U.S. equities moved lower in midmorning trading Friday, with the S & P 500 down 0.2% and the Nasdaq Composite down 0.68%. Jim Cramer said that the market is now bifurcated, with bank stocks going higher on the back of strong earnings and Big Tech coming under pressure. At the same time, bonds rallied, with Treasury yields pulling back in a flight to safety. The yield on the closely-watched 10-year Treasury was hovering around 4.6%. And oil prices surged roughly 4% amid growing geopolitical risk, as West Texas Intermediate crude moved above $86 a barrel. Club energy name Pioneer Natural Resources (PXD) followed suit, climbing more than 2%, while Jim reiterated the Club’s intention to exit the position given Exxon Mobil’s planned acquisition of the shale company. 2. Club holding Wells Fargo (WFC) on Friday reported a 7% uptick in revenue year-over-year for the third quarter, with beats on both net-interest income and non-interest income. Earnings-per-share of $1.48 topped analysts’ estimates of $1.24 a share. The bank also raised its full-year 2023 net-interest-income growth outlook to 16%, up from guidance of 14% and ahead of the consensus estimate of 14%. Jim on Friday highlighted his belief in CEO Charlie Scharf’s ability to continue to turn around the bank under challenging circumstances, while suggesting he expects Wells Fargo stock to only move higher. Shares of WFC jumped roughly 3.8%, to more than $41 apiece. Stay tuned for a full Club analysis on the results later Friday. 3. Club holding Danaher (DHR) sold off late Thursday after German bioprocessing rival Sartorius (SARTF) preannounced a third quarter miss and lowered its organic-growth outlook due to a longer inventory destock from its U.S. and Chinese customers. But TD Cowen said Sartorius’ latest cut aligns its guidance more closely with that of…
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