Jim Cramer explains why DuPont is the No. 1 stock he would buy right now

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 pulled back Friday, coming off Thursday's big rally that boosted markets to record highs. While it was the tech trade that drove yesterday's rally, Friday's decline was led by the semis including Advanced Micro Devices , Broadcom and Nvidia . Defensive sectors like utilities, consumer staples, and healthcare also lagged Friday. Jim Cramer cautioned making moves with the S & P Oscillator signaling an overbought market, but said he would be a buyer of AMD on this pullback given the its strong outlook. 2. Evercore ISI on Thursday raised its price target on Amazon stock to $240 from $225, maintaining its buy-equivalent rating. In a deep dive into the company's Prime Video service, the analysts highlighted the strength of the company's advertising platform and projected how ad monetization could further boost profitability. While we also see the company's ad platform as another vertical that can make a lot of money, what could really move the stock higher is if Amazon continues reducing costs in its retail operations and gains market share in everyday essential products. Amazon shares are now "free to run to $200," Jim said, explaining "the stock has now more than recovered from what was another so-called bad quarter." 3. Jim sees an opportunity to pick up shares of the chemicals maker DuPont as it trades 1% lower Friday. "When people ask me out here which stock in your portfolio would you buy right now, its DuPont," Jim said, adding that at $82 he would buy shares despite the overall market being overbought. He said the stock should be moving higher, especially after Dupont's strong second-quarter earnings, which showed strength across all of its business units. We also point to the potential spinoff of Dupont's water business, which could lead to a higher valuation, bringing it closer to peers like Veralto and Xylem . 4. Stocks covered in Friday's rapid fire at the end of the video were FedEx , Nike , PepsiCo , Constellation Energy , and Johnson & Johnson . (Jim Cramer's Charitable Trust is long AMD, AVGO, NVDA, AMZN, DD. 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.