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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. Stay wary of tech Wait to buy Constellation Stick with Wells Fargo 1. Stay wary of tech stocks Stocks rose Friday on signs wage growth is moderating , signaling the Federal Reserve is making progress in its fight to rein in inflation through higher interest rates. The S & P 500 climbed 1.6% in midmorning trading. However, Jim Cramer cautioned Friday that investors should still be wary of mega-cap tech stocks – these remain difficult to own, and the Club is exercising caution to ensure our tech exposure remains limited. 2. Wait to buy Constellation Brands Cowen on Friday downgraded Constellation Brands (STZ) to market perform from outperform, or buy, citing concerns that consumers will trade down alcoholic beverages as the economy slows. However, the beermaker continues to take market share while flexing its pricing power, so we still like the stock. Constellation on Thursday reported a weak 2023 fiscal third quarter, with the stock closing down nearly 10%. But shares climbed close to 3% in midmorning trading Friday, to roughly $215 apiece. We advise investors to hold off on buying STZ for now, until the dust settles. 3. Stick with Wells Fargo Deutsche Bank on Thursday downgraded JPMorgan (JPM), Bank of America (BAC) and Truist (TFC) to hold from buy, citing macroeconomic headwinds and concerns about weakening bank fundamentals. But not all banks are built the same, and Wells Fargo (WFC) remains a great stock to own despite analysts’ concerns about the financial sector more broadly. While many banks are struggling to manage expenses, Wells Fargo is undergoing a multi-year restructuring program that puts it in a stronger position relative to its competitors. (Jim Cramer’s Charitable Trust is long STZ, WFC. 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.