The CNBC Investing Club with Jim Cramer releases the Homestretch, an afternoon update for the last hour of trading on Wall Street. The S&P 500 was trying to hold onto a post-Fed rally after Jerome Powell indicated that the next move in interest rates probably won’t be a rate hike, easing investors’ concerns. However, recent data showing an uptick in inflation has tempered expectations for rate cuts. Jim Cramer believes the economy does not need rate cuts and has cautioned against risking reigniting inflation.
The Club made trades in response to quarterly earnings reports from companies like Linde, Stanley Black & Decker, Marshalls, HomeGoods parent TJX Companies, and Bausch Health. Linde and Stanley Black & Decker were viewed as unfairly punished and the Club took advantage of buying opportunities. TJX Companies was seen as benefiting from consumer caution, while Bausch Health continued to face challenges due to legal issues and questions about monetizing their stake in Bausch + Lomb.
Troubled portfolio names like Estee Lauder and Foot Locker saw their shares rise on Thursday, potentially due to buyers coming in at lower levels. Apple was set to report its quarter after Thursday’s close, with concerns about softer iPhone sales in China. Coterra Energy was also reporting earnings and holding an analyst conference on Friday morning. Subscribers to the CNBC Investing Club receive trade alerts before Jim makes a trade, with specific guidelines on when trades are executed.
It is important for subscribers to review the terms and conditions, privacy policy, and disclaimer of the Investing Club. There is no guaranteed outcome or profit, and no fiduciary obligation or duty exists due to the information provided. Jim Cramer’s strategy for Apple remains the same: “own it, don’t trade it.” Overall, the Club’s trading decisions are made in response to market conditions and quarterly earnings reports, with a focus on finding buying opportunities in undervalued stocks.
