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: Stocks are ending the week mixed after losing steam in the afternoon. The tech-heavy Nasdaq is still green and touched an all-time high Friday, but was well off its highs of the day. The S & P 500 , meanwhile, is on pace to break its six-week winning streak, which was its longest of the year. The best-performing S & P 500 sector this week was consumer discretionary thanks to Tesla’s post-earnings surge. Tech is tracking for a second-place finish after the semiconductor stocks rebounded. Communication services was about flat. Materials led to the downside, falling almost 4% due to double-digit percentage declines in Newmont Corporation and Nucor . Health care also struggled, down nearly 3% as Universal Health Services , HCA Healthcare and Club name Danaher all fell 10% or more. We bought the Danaher sell-off Wednesday, believing its decline on earnings was overly done. CrowdStrike : Shares of CrowdStrike erased their earlier gains and dropped roughly 2% after Bloomberg News reported on a $32 million order the company received last fall from Carahsoft Technology, a reseller of enterprise software to government agencies. The order was intended for the Internal Revenue Service, but the tax agency never bought the software, according to the story. Despite the IRS never buying the software, Bloomberg reported that Carahsoft continued to pay CrowdStrike. Bloomberg News reached out for comment and both companies said they had a “non-cancellable order.” The story possibly raised concerns among investors about CrowdStrike’s accounting practices and “pre-booking” a deal that may have been incomplete. Jim Cramer also reached out to CrowdStrike CEO George Kurtz for comment, and we felt better after he reiterated that the order was “non-cancellable” and was booked in compliance with Generally Acceptable Accounting Principles, or GAAP, which is the standard for U.S. companies. We think this story is simply noise and would be buyers on this dip if we were not restricted from trading. Up next: Get ready for the busiest week of earnings season. About one-third of the S & P 500 is scheduled to report, including the megacap stocks: Apple , Amazon , Meta Platforms , Microsoft and Alphabet . What these portfolio companies have to say about capital expenditures will be a good read into the pace of AI investments, which matters for fellow Club holding Nvidia . We’ll also see earnings from Club names Stanley Black & Decker , Advanced Micro Devices , Eli Lilly , GE Healthcare , Nextracker , Linde , Eaton , and Coterra Energy . Starbucks also reports, but it preannounced earnings earlier this week . The results were awful, dragged down by significant traffic declines in the U.S. and China. However, the market gave the results a pass — Starbucks shares are actually higher this week — because these numbers predate new CEO Brian Niccol’s turnaround plan. It’s also a massive week of economic data. On Thursday, we’ll get the Federal Reserve’s favorite inflation gauge inside the Personal Consumption Expenditures (PCE) price index. We’ll receive the October nonfarm payroll report Friday, though that could be a challenging one to interpret due to the recent hurricanes and the Boeing union strike. These are two big data points ahead of the next Fed policy meeting, which begins on Nov. 6. (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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