Stocks close out the week higher despite tariff concerns and negative retail sales data. Jim Cramer discusses Palo Alto Networks' earnings miss, CrowdStrike's performance, and looks ahead to Texas Roadhouse's upcoming report.
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 traded higher Friday and are on pace to end the week in the black, even as investors weigh the impact of President Donald Trump's plans on reciprocal tariffs. For the week, the S&P 500 is up 1.5%, while the Dow and the Nasdaq are up 0.9% and 2.2%, respectively.
On Thursday, Trump outlined his tariff strategy, but delayed implementing any in order to give impacted countries time to negotiate. Meanwhile, January retail sales fell 0.9%, far worse than the expected 0.2% decline, signaling potential economic weakness ahead. With consumer spending making up roughly two-thirds of U.S. economic activity, a pullback could slow first-quarter growth. Shares of cybersecurity stock Palo Alto are down 6% despite better-than-expected results late Thursday. Investors had hoped for a bigger increase to guidance. That led to profit-taking after the stock's recent rally alongside other cybersecurity names that reported last week. The sell-off pressured fellow cybersecurity solutions provider CrowdStrike , which slipped 0.8%. We've been using proceeds from Palo Alto sales to buy more CrowdStrike, which is up 32% this year versus Palo Alto's 5% gain. CrowdStrike reports earnings on March 4. Looking ahead into next week, there's only one Club name reporting: Our newest position Texas Roadhouse on Thursday after the close. We called up this restaurant company from the bullpen and started a small position on Feb. 4. A few days later on Feb. 7 we dipped into our large cash position to buy more shares in a weaker market. The stock is down about $6 since that last buy, to about $170. The pullback likely reflects cautious sentiment ahead of earnings, given the poor weather across the country over the past few weeks which could prevent consumers from going out to eat. Nevertheless, the upcoming report should be solid. We also have our Monthly Meeting for February next Thursday. Stay tuned for Jim Cramer's latest thoughts on all the stocks in the portfolio
INVESTING MARKETS TARIFFS CYBERSECURITY RETAIL SALES EARNINGS ECONOMIC OUTLOOK STOCKS JIM CRAMER CNBC INVESTING CLUB
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