The CNBC Investing Club with Jim Cramer releases the Homestretch every weekday, providing an actionable afternoon update for the last hour of trading on Wall Street. The markets are starting the first day of October and fourth quarter on a lower note, following trends seen in August and September. The recent sell-off is based on conflict in the Middle East after Iran launched missiles into Israel, causing a flight to safety with U.S. government bonds and the dollar rallying, oil spiking, and energy and defense stocks jumping. The club recently bought shares of Coterra Energy as a hedge in case events in the Middle East spark a bigger move in oil, along with the recent recovery in natural gas.
The S & P 500 tech sector is facing challenges with a flight to safety session translating to tech weakness as investors take risk off the table. Various company-specific headlines are also affecting tech stocks, with weak performance in Club name Apple due to analysts scrutinizing iPhone 16 lead times. PC-related stocks are getting hit after Citigroup downgraded HP Inc and CDW Corp, stating that artificial intelligence-enhanced PCs won’t have a big impact on sales until the 2026/2027 timeframe. Despite this, the club is not changing its views on tech positions, including chipmakers Nvidia, Broadcom, and Advanced Micro Devices, as well as Best Buy, which benefits from the PC refresh cycle.
Up next, Nike is set to report earnings after the closing bell, providing insights into what’s happening in China after recent economic stimulus measures. Additionally, Nike’s last earnings report before Elliott Hill replaces John Donahoe as president and CEO will be significant. Other companies reporting earnings include Lamb Weston and Cal-Maine Foods before the opening bell Wednesday. The club is also keeping an eye on ADP’s private-payrolls report ahead of the Labor Department’s pivotal jobs report on Friday. Subscribers to the CNBC Investing Club with Jim Cramer receive trade alerts before Jim makes a trade, with a waiting period of 45 minutes after the alert before buying or selling a stock in the charitable trust’s portfolio.
As a subscriber to the CNBC Investing Club with Jim Cramer, individuals will receive a trade alert before Jim makes a trade. There is a waiting period of 45 minutes after the alert before buying or selling a stock in the charitable trust’s portfolio. If Jim has discussed a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. It’s important to note that there is no fiduciary obligation or duty created by receiving information from the investing club, and no guaranteed outcome or profit is promised. The information provided in connection with the club is subject to terms and conditions, privacy policy, and disclaimer.
