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. Stocks are higher across the board Friday, with the S & P 500 , up 0.3%, heading for its third straight positive week. The Nasdaq is up 0.6%, while the Dow Jones Industrial Average added 0.1%. This market has been “taken over by the bulls,” Jim Cramer said Friday, citing a better-than-expected November jobs released Friday as one catalyst. Nonfarm payrolls rose by 227,000, topping estimates of 220,000, while the unemployment rate edged up to 4.2% from 4.1%. The solid report, Jim noted, gives the Federal Reserve room to cut interest rates at its upcoming policy meeting on Dec. 18. The market is already pricing in an 87% chance of a quarter-point cut, according to CME FedWatch. Jim says this “unleashes a lot of opportunity” for the market. 2. Shares of Constellation Brands got a 1.5% lift Friday after Wall Street firm Needham initiated the beer brewer with a buy rating and a $280 price target, implying a 17% upside. The analysts said Constellation is the strongest player in the beverage industry, rooted in its robust revenue growth and operating margins. While President-elect Donald Trump’s proposed tariffs on Mexican imports could be an overhang to the stock in the near term, analysts pointed to recent momentum in alcohol demand and the company’s consistent market share gains as signs of encouragement. Jim added that without the tariff concerns, the stock wouldn’t be under as much pressure. If beer companies are exempt from the tariff increases, Constellation stock “is very very primed to go much higher,” he noted. 3. Looking to next week, Jim predicts strong earnings from Costco , which reports Thursday after the bell. The retailer’s solid November comparable sales provide an early glimpse into its quarterly results. We will be watching for commentary on whether card scanners in the U.S. are creating an uptick in membership growth, pricing strategies that are driving more traffic to stores, and management’s take on inflation, which Jim calls “the best single read on the economy.” Costco shares rose over 1% Friday. Club holding Broadcom reports Thursday after the market close. 4. Stocks covered in Friday’s rapid fire at the end of the video were: Lululemon , Ulta Beauty , Hewlett Packard Enterprise , Deere , and DocuSign . (Jim Cramer’s Charitable Trust is long STZ, COST. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
