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 reversed higher after the Supreme Court on Friday struck down the bulk of President Donald Trump’s tariffs . The S & P 500 had been down earlier in the session on softer GDP growth . In portfolio moves, we decided to exit our position in Texas Roadhouse on Friday after lackluster earnings . The stock opened higher as Wall Street looked past high beef prices because of accelerating comp sales. “They have a true cattle problem that’s the worst in American history,” Jim Cramer said Friday. Shares later turned lower. We also trimmed Qnity Electronics when it was up earlier after a nice recent run in the DuPont spin-off. Shares of Qnity turned slight lower later. 2. The high court ruling that Trump exceeded his authority with emergency tariffs puts a lot balls in the air — not the least of which whether the president will reimpose the levies under a different mechanism. As we wrote Thursday , the court’s decision is welcome news for consumer-facing companies. “If you own companies like retailers like we do, like Nike , you’re going to be excited,” Jim said. On the other hand, the market is “circumspect about how much this is going to end up really scrapping the tariffs,” Jim added. That’s likely why retail and consumer stocks were not up more on the news, with most of them turning lower. 3. Shares of Corning rose 7% on Friday, making it one of the biggest gainers in the S & P 500 after UBS increased its price target to $160 from $125 — a new Street high. The analysts raised their sales and earnings forecasts based on the high capital expenditure spending plans from hyperscalers. Part of that spend will go toward Corning’s fiber-optic cable and connectivity solutions to support AI data center expansions. Analysts believe there could be more capex revisions higher after Nvidia reports earnings next week, which could lead to more contracts like the recent a fiber optic cable deal Corning scored with Meta Platforms . “The way we’re going to solve the energy problem is it’s going to be fiber within an Nvidia chip,” Jim said, suggesting that would be a major tailwind for Corning. (Jim Cramer’s Charitable Trust is long NKE, GLW, 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.