CNBC’s Investing Club with Jim Cramer hosts a live “Morning Session” every weekday at 10:20 a.m. ET. Here’s a recap of Friday’s key moments. Higher rates positive for banks Watch Nvidia earnings on board: Salesforce, Costco 1 Higher rates positive for Wall Street banks fell on Friday after January’s core personal consumption expenditures (PCE) price index rose more than expected. It is the Federal Reserve’s preferred inflation metric. The reading added to investor concerns that the Fed is likely to keep interest rates higher for longer and may back off by as much as half a point at its March meeting. While higher rates hurt the overall market, they are positive for our bank holdings Wells Fargo ( WFC ) and Morgan Stanley ( MS ) from net interest income. 2. Watch as Nvidia Nvidia ( NVDA ) gave back some of the previous session’s 14% gain on Friday. Investors were likely taking profits after such an increase in a solid quarter and a strong outlook. There is excitement surrounding Nvidia’s role in creating artificial intelligence chips and the company’s big developer event next month. The club’s shares, which fell by half of their value last year, strengthened by roughly 58% year-on-year. We watch the stock to see at what level we might consider adding to our position. For now, we repeat our 2 ratings. 3. Next week’s earnings: Salesforce, Costco Salesforce ( CRM ) are set to report earnings after Wednesday’s close. We will look for a way to increase profitability. The enterprise software maker has recently come under pressure from activist investors who want to see better margins. Costco (COST) is set to post earnings after the bell on Thursday. Unlike most companies, wholesale retailers report monthly sales figures and they are good. We’ll be looking for any changes in consumer spending and whether Costco plans to raise membership fees or issue a special dividend. (Jim Cramer’s Charitable Trust is long WFC, MS, NVDA, CRM & COST. Find a full list of stocks here.) As a CNBC Investing Club with Jim Cramer subscriber, you will receive trade alerts before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling shares in his charitable trust’s portfolio. If Jim was talking about stocks on CNBC TV, he waits 72 hours after the trade alert is issued before he executes the trade. THE ABOVE INVESTMENT CLUB INFORMATION IS SUBJECT TO OUR TERMS AND PRIVACY POLICY ALONG WITH OUR DISCLAIMER. NO FIDUCIARY OBLIGATION SHALL EXIST OR CREATE BY YOUR ACCEPTANCE OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTMENT CLUB. NO PARTICULAR RESULT OR PROFIT IS GUARANTEED.
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