Jim Cramer says this struggling stock could remain under pressure in AI-driven market

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. The three major indexes moved higher Friday after a better-than-expected April jobs report. The Labor Department said nonfarm payrolls increased by 115,000 last month , topping economists' expectations for 55,000. The jobless rate held steady at 4.3%. Jeff Marks, director of portfolio analysis for the Club, said the report weakens the case for near-term Federal Reserve rate cuts because the labor market remains stable. Jim argued, however, that large parts of the economy tied to housing and traditional consumer spending still need lower rates. "I'm still a believer that the Whirlpool economy is what [incoming Fed Chair Kevin] Warsh will focus on," Jim said, referring to slowing demand across housing-related and lower-end consumer categories. 2. Wells Fargo downgraded Nike on Friday, citing concerns that the company's turnaround could take longer than investors had hoped. Shares of Nike have fallen roughly 30% this year, making the stock the second-worst performer in the Dow. Jim said the retail environment has become increasingly difficult as investors continue to favor AI-related stocks over traditional consumer names. The Investing Club downgraded Nike following the company's most recent quarter, reflecting concerns that improving fundamentals alone have not been enough to lift sentiment across the retail sector. 3. …