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 rallied Friday after Federal Reserve Chairman Jerome Powell’s dovish Jackson Hole speech. Powell said Friday, “The time has come for policy to adjust,” laying the groundwork for the interest rate cuts that the market has been expecting to begin next month. Tech stocks were trading higher, particularly semiconductor Club names Nvidia , Broadcom , and Advanced Micro Devices . Sectors including staples, health care, and utilities were doing poorly on Friday. Jeff Marks, director of portfolio analysis for the Club, said defensive names “are the ones you typically wouldn’t want to own in a soft-landing scenario or at least own less of.” Shares of Nvidia added another 4% on Friday — drawing strength from a bullish Evercore ISI note ahead of the earnings print after Wednesday’s close. Evercore raised its Nvidia price target to $150 per share from $145, pointing to robust capital expenditure spending from its hyperscaler clients. Analysts said that any delay concerns about the Blackwell chip platform are overdone. We agree and believe Nvidia will just sell more of their H100 chips in the meantime. Marks believes Nvidia’s quarter and guide will be good but wonders “whether or not it’s going to be good enough for the market.” Best Buy is set to report earnings before Thursday’s opening bell. It could be the last bad quarter as we wait for new tech innovations to boost comparable sales in the back half of the year. The reported quarter may give us a better idea of whether AI-powered personal computer sales are off to a good start or not. “We’re debating maybe taking some profits into the quarter,” Marks said, adding that big-ticket items like appliances aren’t selling well right now given the weaker consumer. The overall market is also overbought, which signals to us to lighten up on stocks. On the plus side, Best Buy should benefit from Fed rate cuts, which will lower borrowing costs and free up consumers to spend more on their homes down the road. (Jim Cramer’s Charitable Trust is long NVDA, AVGO, AMD, BBY. 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.