The Investing Club holds its 'Morning Meeting' every weekday at 10:20 a.m. ET.
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. U.S. stocks jumped Friday as Wall Street cheered a softer-than-expected jobs report — an encouraging sign that the Federal Reserve's battle to tame inflation is working. "This is the kind of number you need that basically says the Fed is doing their job," Jim Cramer said.
Eli Lilly stock declined 2% Friday after fellow drugmaker Amgen teased upbeat interim trial data for its experimental weight-loss drug. Amgen shares surged 12% on the news. Investors appear concerned that Amgen will challenge Lilly's dominant position in the red-hot weight loss drug space, but we're not concerned. Eli Lilly has built a defensive moat in the market, including its direct-to-consumer platform for the firm's anti-obesity drug Zepbound.
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