Every weekday, the CNBC Investing Club with Jim Cramer holds a live “Morning Meeting” broadcast at 10:20 a.m. ET. Here's a recap of Friday's key moments. US stocks rose on Friday as Wall Street cheered a weaker-than-expected jobs report, an encouraging sign that the Federal Reserve's battle to rein in inflation is working. “This is the kind of number you need that basically indicates the Fed is doing its job,” Jim Cramer said. Market gains were also driven by Apple-owning Club shares, which rose more than 6% on Friday after the iPhone maker posted a top- and bottom-line quarterly beat on Thursday and announced a record share buyback. Coterra Energy shares rose 2% on Friday after its strong quarterly earnings in the previous session. Coterra reported that oil production was above the high end of guidance and capital spending was below expectations, resulting in higher earnings and improved free cash flow for the club's holdings. Mizuho Securities analysts on Friday raised their price target for Coterra Energy to $37 apiece from $34, arguing that the company once again defied naysayers and beat expectations. Eli Lilly stock fell 2% on Friday after drugmaker Amgen raised upbeat interim trial data for its experimental weight-loss drug. Amgen shares rose 12% on the news. Investors seem worried that Amgen will challenge Lilly's dominant position in the hot weight loss drug space, but we're not worried. Eli Lilly has built a defensive moat in the market, including its direct-to-consumer platform for the company's anti-obesity drug Zepbound. (Jim Cramer's Charitable Trust Long CTRA, LLY, AAPL. See here for full list of stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you'll receive a trade alert before Jim takes a trade. Jim waits 45 minutes after a trade alert is sent before buying or selling a stock in his charitable fund's portfolio. If Jim talks about a stock on CNBC TV, he waits 72 hours after the trade alert is issued before executing the trade. The above Investment Club information is subject to our Terms and Conditions and Privacy Policy, as well as our Disclaimer. No obligation or fiduciary duty exists or is created by your receipt of any information provided in connection with the Investment Club. No specific results or profits are guaranteed.
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Here's what's driving Friday's moves at Apple, Coterra and Eli Lilly
