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. Buying health stocks DHR as a China reopening play Tech cutting costs 1. Buying health stocks on the dip Health-care stocks were down on Friday, along with other defensive names, as investors continued to buy up shares of technology companies on hopes the Federal Reserve will dial back its pace of interest rate hikes. As a result, we believe that right now is a great opportunity to buy health-care stocks on the dip, and recommend Johnson & Johnson (JNJ). However, we caution investors to exercise discipline when picking up shares of the stock. “Let’s say you’re new to the Club and you want to buy 200 shares of Johnson & Johnson. Buy 100 now, and then wait to see if it doesn’t go down $10, and then buy the second half,” Jim Cramer said Friday. JNJ was trading down more than 3% midmorning, at roughly $169 a share. 2. DHR as a China reopening play China eased some Covid-19 restrictions on Friday, and Club names with business in the country including Starbucks (SBUX), Wynn Resorts (WYNN) and Estee Lauder (EL) jumped. While we have previously highlighted those three stocks as great plays for when China abandons its zero-Covid policy – Estee Lauder is our favorite – Club holding Danaher (DHR) also does significant business in China. The stock climbed more than 1% Friday, to around $271 a share, suggesting it will be a core stock to own when China’s economy reopens. 3. Tech cutting costs Amazon (AMZN) is performing a review of cost cuts and considering how to manage unprofitable businesses like Alexa, according to The Wall Street Journal . The report comes days after Meta Platforms (META) laid off over $11,000 employees . While we don’t know yet whether Amazon will let go of workers, we expect some Big Tech companies will likely follow in Meta’s footsteps to control balooning costs. (Jim Cramer’s Charitable Trust is long AMZN, SBUX, WYNN, DHR, EL, JNJ,. 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.