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 were stumbling Friday after Thursday’s market rally on the blockbuster IPO of chip designer Arm (ARM), which debuted up nearly 25%. Not a lot was working Friday morning as bond yields perked up and U.S. oil prices were pushing $91 per barrel. Investors will be watching next week’s meeting of Federal Reserve policymakers. No interest rate hike is expected, but what happens at the November meeting is more of an open question after this week’s inflation reports had some hot spots in them 2. The United Auto Workers’ strikes at all three Detroit automakers aren’t helping market sentiment. The actions, and their ripple effects, have shut down 15% of American auto production. The walkouts are at three plants — one at each of the Big Three. Jim Cramer said the affected Bronco plant at Ford (F) is a blow but not as big as it could have been had F-150 facilities been targeted. Bank of America thinks Ford is close to getting a deal done. 3. It looks like Disney (DIS) is making good on CEO Bob Iger’s plans to explore the future of the company’s linear networks. It was reported late Thursday that Disney has held preliminary talks on selling ABC to Nexstar (NXST). Another story came later from Bloomberg, saying media mogul Byron Allen has submitted a $10 billion offer for the ABC assets. Disney said it’s open to considering strategic options for its linear business but no decision has been made. We believe a move to monetize ABC at the right valuation can help Disney boost profitability. (Jim Cramer’s Charitable Trust is long F, DIS. 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.
