Friday's stock market rotation gives a further boost to an out-of-favor sector

Every weekday the CNBC with Jim Cramer holds a "Morning Meeting" at 10:20 a.m

Here's a recap of Friday's key moments. 1

Health-care stocks continued to bounce back at the expense of momentum names such as Palantir and name GE Vernova

The Dow was performing better than the broader market, receiving a boost from UnitedHealth's best day in five years after Warren Buffett's Berkshire Hathaway revealed, in quarterly securities filings, a significant stake in the troubled insurer. "Big Short" investor Michael Burry and Appaloosa Management's David Tepper also disclosed sizable stakes in the embattled health insurer. 2

Consumers were feeling worse the economy and future inflation in the early weeks of August, according to the University of Michigan's sentiment data

Consumers have taken the worst-case scenario tariffs off the table, the survey director said. "However, consumers continue to expect both inflation and unemployment to deteriorate in the future." The government released July retail sales before Friday's open, and the headline and ex-auto numbers matched expectations. 3

They think that a restocking benefit lifting the company's networking segment is almost over

HSBC also pointed out that Cisco's security came in below expectations

We were also critical of that in our earnings analysis on Wednesday evening and during Thursday's monthly meeting

But the key, in our view on Cisco, is that the AI infrastructure is getting traction. (Jim Cramer's Charitable Trust is long CSCO

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Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio

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