Jim Cramer's Investing Club meeting Friday: Hot jobs report, Marvell earnings read through

Published Fri, Dec 2 202211:25 AM EST

Hot jobs report Marvell earnings readthrough 1. Hot jobs report Stocks slid on Friday after the November job report came in hotter than expected , worrying investors that are hoping the Federal Reserve will soon start easing back its pace of interest rate hikes. Wages were also up more than expected year over year. While some investors might look to exit the market following the concerning economic data points, we are looking to put some cash to work as prices come down. The Fed likely won't move away from a rate hike of 50 basis points at its December meeting, and Chair Jerome Powell made clear on Wednesday that a slowdown in the central bank's rate increases is on the horizon. 2. Marvell earnings read through Marvell Technology (MRVL) reported a miss on the top and bottom lines for its latest quarter on Thursday after the close, and issued downcast guidance for its data center business as inventory reductions weigh on their results. The read through from the results could be negative for Club holdings Advanced Micro Devices (AMD) and Nvidia (NVDA). And while we exited our position in MRVL last month, we are interested in eventually buying back those shares after its inventory snags play out through the next couple quarters. We believe that Marvell is still a great company with great storage capabilities, and the secular trends driving its business — 5G, autos and data center — are still strong. (Jim Cramer's Charitable Trust is long AMD, NVDA. 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.