Apple's all-time high is not the only one in our portfolio. Plus, why Nvidia is rebounding

Published Fri, Jun 30 202311:44 AM EDTUpdated Fri, Jun 30 20231:50 PM EDT

Kevin Stankiewicz @in/kevin-stankiewicz-b5593466 @kevin_stank

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. Wall Street gains Watch Apple at $3 trillion NVDA climbs higher 1. Wall Street gains All three major U.S. stock benchmarks rose Friday, the final trading session of the second quarter. Technology stocks are once again leading the way, a trend that's dominated throughout the first-and-second quarters. The tech-heavy Nasdaq Composite is on pace for its best first half of the year since 1983, climbing more than 30%. The Dow Jones Industrial Average and S & P 500 , meanwhile, are tracking for their third positive quarter in a row. On Friday, an inflation gauge closely watched by the Federal Reserve showed inflationary pressures eased in May , a potentially bullish sign for equities. 2. Watch Apple at $3 trillion Apple 's (AAPL) market capitalization eclipsed $3 trillion on Friday, as shares of the iPhone maker climbed more than 1.5% to fresh all-time intraday highs, above $193 each. This is the time second time in its history that Apple's market cap has been above $3 trillion on an intraday basis; the first came in early January 2022, before Wall Street fell into a bruising bear market. Apple has never closed above $3 trillion in market value. We continue to view Apple as an "own it, don't trade it" stock. Other Club holdings making intraday record highs Friday include Linde (LIN), Palo Alto Networks (PANW) and TJX Companies (TJX). 3. NVDA climbs higher Shares of Nvidia (NVDA) are back in the green Friday, after being dragged down earlier this week following a report that the the U.S. government is considering tougher export controls on sending artificial intelligence chips to China. The stock rose around 4% Friday, to more than $424 each. On Wednesday, as investors digested a Wall Street Journal story on the potential restrictions , Nvidia shares traded as low as $405.18 each. Helping sentiment around Nvidia on Friday was an upgrade from Daiwa Securities. (Jim Cramer's Charitable Trust is long AAPL, LIN, PANW, TJX and 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.