S&P 500 tries to hang onto gains ahead of big events next week that could move 3 stocks

Every weekday, CNBC Investment Club with Jim Cramer hosts a "Morning Meeting" livestream at 10:20 a.m. ET. Here's a recap of Friday's highlights. 1. The S&P 500 rose for a fourth straight session on Friday, which would lock in back-to-back positive weeks. The index was trading less than 1% below its record high close of 6,890 on Oct. 28. The core September personal consumption expenditures price index, which was delayed by the government shutdown, was released Friday morning and showed a smaller-than-expected increase of 2.8% year-on-year. Core PCE is the Federal Reserve's favorite inflation indicator. The University of Michigan's latest consumer survey showed sentiment rising. Neither report changed market expectations for the Fed to cut interest rates at next week's meeting. 2. Mizuho reiterated Broadcom as his top choice and made a bold call, saying he would buy shares ahead of next Thursday's earnings. Club shares were 5.5% away from their record close of nearly $403 on Nov. 28. Expanding access of tensor processing units to cloud service providers and neoclouds is bullish for 2026, Mizuho said. TPUs are custom AI chips that Google co-designed with Broadcom. Oppenheimer raised his Broadcom price target to $435 from $400 and maintained his buy rating. Analysts expect a strong quarter and outlook. 3. We have two more things to watch next week. GE Vernova is holding an investor meeting on Tuesday evening. Given the recent strength in orders and demand expectations for gas turbine and electrification products and services, many analysts expect management to raise its forecasts for 2025 and perhaps even next year. The company is also expected to raise its long-term 2028 outlook. After Thursday's close, Costco reported its earnings along with Broadcom. The stock gained modestly on Friday, following a decline of about 3% in the previous session due to disappointing November sales. We didn't think they were this bad. (Jim Cramer's Charitable Trust is long AVGO, GEV, COST. See here for a full list of stocks.) When you subscribe 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 trading alert before buying or selling a stock in his charitable foundation's portfolio. If Jim talked about a stock on CNBC TV, he waits 72 hours after issuing the trading alert before executing the trade. THE ABOVE INVESTMENT CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY, TOGETHER WITH THE DISCLAIMERS. NO CIVIL OBLIGATIONS OR DUTIES EXIST OR SHALL BE RESULTING FROM YOUR RECEIVING ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTMENT CLUB. NO SPECIFIC RESULT OR PROFIT CAN BE GUARANTEED.