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. Market getting interesting No hurry on SWK Starbucks in focus 1. Equities fall Stocks were lower Friday, as the three major U.S. equity benchmarks headed for weekly losses of more than 1%. The Dow Jones Industrial Average and S & P 500 are set to break three- and five-week winning streaks, respectively. The Nasdaq Composite , meanwhile, is poised to see its eight-week winning streak come to an end, with technology stocks losing steam. Still, Jim Cramer said Friday that he’s not yet ready to aggressively put to work the cash we raised this month when the stock market was in deep overbought territory. “I don’t necessarily think it’s time to buy yet,” he said. 2. Sit tight on SWK Jim said he’s in “no hurry” to add to our new, but small, position in Stanley Black & Decker (SWK). “Don’t buy it when it’s up,” he said, with the toolmaker being one of the few Club stocks in the green Friday. However, if the stock moves below $87 per share, we may get interested. Our initial 100-share purchase last week came at $89.42 each. We’re encouraged by recent survey results from Wells Fargo Securities, which found 41% of respondents plan to boost their spending on home-improvement projects in the coming months. That finding carries positive implications for Stanley Black & Decker because consumers may need to go out and buy DeWalt and Craftsman tools to complete those projects. 3. Watch Starbucks Starbucks (SBUX) is another stock on our watchlist. Jim said he’s interested in buying back a portion of the 100 shares we sold in late April at a 31% profit. “I don’t want to buy it yet,” he cautioned, but said the coffee chain has become increasingly attractive, falling more than 14% since the start of May. The decline comes as the union representing Starbucks baristas said workers at more than 150 U.S. stores plan to strike over Pride displays . Jim said he believes the bigger-picture story at Starbucks remains intact. Investors should be “thinking long term,” he added. (Jim Cramer’s Charitable Trust is long SBUX and SWK. 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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