Trump's new tariff threats slam the market — but, our newest stock hits an all-time high
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 declined on Friday after President Donald Trump threatened Apple and the European Union with tariffs. "I don't think it's down enough," Jim Cramer said, referring to the overall stock market while noting Trump's high tolerance for market pain as he pushes for trade deals. Lower bond yields on Friday did not help stocks. However, the 10-year Treasury yield was still elevated and above 4.5%. "On these down days, it's always important to search for positives," said Jeff Marks, director of portfolio analysis for the Investing Club. CrowdStrike and GE Vernova were our two biggest winners Friday and for the entire week. 2. Treasury Secretary Scott Bessent told Fox News on Friday that he hopes the president's latest tariff updates "light a fire" under both the EU and Apple. Administration officials said the EU's proposal was not as good as others. In a post on his Truth Social, Trump suggested a 50% tariff on the EU, beginning June 1. He also said that iPhones not made in the U.S. should be subject to a 25% tariff. It appears, however, that progress with China on trade matters continues, with both parties maintaining communications after agreeing last week to temporarily reduce tariffs on each other's goods. 3. Our newest Club name GE Vernova was one of the nuclear stocks doing well Friday amid the overall market sell-off. The stock on Friday hit an all-time intraday high of $468.27 per share. The company, which makes small modular reactors (SMRs), had a double shot of good news this week. It struck an SMR deal with the Tennessee Valley Authority. It also saw Trump agreeing to allow a New York offshore wind project move forward. 4. Stocks covered in Friday's rapid fire at the end of the video were: Deckers Outdoor , Ross Stores , Workday , and Intuit . (Jim Cramer's Charitable Trust is long AAPL, GEV. 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.
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