By Kevin Stankiewicz
Publication Date: 2026-10-02 15:28:00
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. Wall Street went into rally mode Friday, thanks to falling oil prices and a soft September jobs report that eased pressure on bond yields. The Nasdaq was leading the charge, up over 1.5% and touching a fresh record high. The S & P 500 was up roughly 1%, while the Dow was the relative laggard, up about 300 points, or 0.6%. With the one-two punch of oil prices declining on hopes for an additional strategic stockpile release and the employment number giving the Federal Reserve more room to hold at its October meeting, Jim Cramer said you might think we’d have a “buy everything” kind of market. “This is not that kind of market,” Jim said, with the Dow’s underperformance illustrating that dynamic. “What we end up doing is we huddle over certain communication services and tech [stocks].” 2. One of those tech stocks on the ascent Friday was Nvidia , which was up over 2.5% and trading at record levels for the first time since mid-May. “Very important. Breaks the double top,” Jim said. What he means is that Nvidia had, on a few occasions, gotten within a few bucks of its May intraday peak of $236.54, only to see the sellers step in. On Friday, the stock finally punched through it. Morgan Stanley reinstated Nvidia as its top pick in semiconductors is helping the bulls’ cause. “Morgan Stanley has got a pretty good reputation on…