Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Markets: It is another volatile, choppy day on Wall Street. For the second day in a row, the S & P 500 reversed early losses and fought into the green — but unlike a day ago, the index slipped back into the red and was down about 0.4% as of 2:30 p.m. ET. We’re one day away from President Donald Trump’s reciprocal tariff announcement — set for a 4 p.m. ET event in the Rose Garden — and the White House confirmed the levies will be effective immediately. However, what remains unclear is the size and scope of the tariffs. Among our questions: Will the tariffs be roughly 20% across the board, reciprocal, or targeted? What, if any, exemptions will be made? Having some clarity on these points could help the markets recover, but the long-term impact of tariffs will be an overhang. Tracking GDP : The Atlanta Fed’s GDPNow forecast for the first quarter was negatively revised to a 3.7% contraction from its last update of a 2.8% decline on March 28. The model – which provides a running estimate of annualized quarter gross domestic product growth – was updated to include recent major economic releases like ISM Manufacturing Index and the Census Bureau’s construction spending report, both of which were released Tuesday. The ISM report came in lighter than expectations, while the construction spending data rose more than expected, helped by homebuilding activity. Get Your Ticket for the Annual Meeting! Secure your ticket today for the CNBC Investing Club’s upcoming 3rd Annual Meeting on May 2nd in Orlando, Florida! The Atlanta Fed also produces an alternative model that adjusts for imports and exports of gold. That is tracking at a 1.4% contraction, so it is a little better from that perspective. Full disclaimer: This is only one model of GDP. Others are estimating vastly different figures. For example, the latest tracking estimate by Goldman Sachs’ economists of 0.2% growth paints a more resilient picture of the economy. For 2025, Goldman estimates GDP growth of 1.5% on an annual average basis. In any case, the GDP models have taken on greater salience lately as concerns about the health of the U.S. economy have grown and proven to be a headwind for certain parts of the market such as travel-related names. Up next: There are no major earnings reports after the closing bell on Tuesday and before the opening bell on Wednesday. On the data side, on Wednesday we’ll see weekly mortgage applications, the ADP private payrolls report, factory orders, and durable goods orders. And of course, we’ll be monitoring all trade and tariff-related headlines ahead of Wednesday’s expected announcements. (See here for a full list of the stocks in Jim Cramer’s Charitable Trust.) 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.
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street.
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