The Homestretch is a daily afternoon update by CNBC Investing Club with Jim Cramer, providing members with actionable insights for the last hour of trading on Wall Street. The market has been experiencing muted action, trading in a tight range amid light news, following an eventful Wednesday with the S & P 500 hitting new highs and Treasury yields dropping in response to a cooler-than-expected consumer price index. After four weeks of gains, Wall Street appears to be taking some time to digest these gains, as the market was pushed into overbought territory. Tech sector performed well this week, with artificial intelligence and data center plays like Super Micro Computer and Advanced Micro Devices leading the way. Top performers also included Broadcom and Nvidia. New AI-related innovations from Google’s Alphabet and OpenAI may have catalyzed this group move. Cybersecurity stocks such as Palo Alto Networks also did well, with upcoming earnings reports from Nvidia and Palo Alto.
Real estate was the second-best performing group, benefitting from a pullback in bond yields but remains the lone sector in the red year to date. Communication services and health care sectors were third and fourth, fluctuating in performance. Industrials were the worst performing sector this week, surprising considering the group’s recent strength. Deere was a laggard after cutting its full-year outlook. Consumer discretionary was second from the bottom, influenced by weak retail sales report amidst a softening consumer thesis. Retail stores and apparel brands like Walmart, Macy’s, TJX Companies, Target, Williams-Sonoma, Ralph Lauren, and Deckers Outdoors are expected to report earnings next week. Materials and energy sectors are on track for slight gains, with Coterra Energy having an up week and natural gas rallying on Friday, indicating a potential tailwind for nat gas prices in the future.
Subscribers to CNBC Investing Club with Jim Cramer receive trade alerts before Jim makes a trade, waiting 45 minutes before executing the trade after sending the alert. If Jim has discussed a stock on CNBC TV, he waits 72 hours before making a trade. The information provided by the Investing Club is subject to terms and conditions, privacy policy, and disclaimer. There is no fiduciary obligation or duty created by receiving information from the Investing Club, and no specific outcome or profit is guaranteed. The Club provides quick updates and insights to help members navigate the market in real-time, focusing on key sectors and top-performing stocks, and providing trade alerts based on Jim Cramer’s analysis and recommendations. By staying informed through the Homestretch updates, members can make informed decisions on their investments and potentially capitalize on market opportunities.
