Every weekday, the Investing Club releases the Homestretch; an actionable afternoon update just in time for the last hour of trading.
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. Market moves: The S & P 500 was tracking to close the week higher.
Most of the gains were from megacap tech stocks, while the average stock lagged, as evidenced by the decline of the Invesco S & P 500 Equal Weight exchange-traded fund. We have discussed before how lower interest rates will help the stock market rally broaden into other sectors, such as housing. However, the 10-year Treasury yield has been creeping up ever since the Federal Reserve lowered rates by 25 basis points on Wednesday. And, in this environment, investors are going back to the large-cap, secular growth technology stocks. Trade talks : President Donald Trump held a highly anticipated call with Chinese President Xi Jinping on Friday, announcing on Truth Social that it ended with a deal for a group of investors to take control of TikTok's U.S. operations. "I just completed a very productive call with President Xi of China. We made progress on many very important issues, including Trade, Fentanyl, the need to bring the War between Russia and Ukraine to an end, and the approval of the TikTok Deal," Trump wrote on his social media platform. We had hoped to hear about a Boeing order, and there were no new developments on that front, but Trump's update signals that trade talks remain in solid standing. In other trade news, Trump also said on Truth Social that the president of Turkey is coming to the White House on Sept. 25 to hash out a trade deal involving Boeing planes and other defense equipment. Power stocks : The power-related stocks are at it again. We're seeing another day of gains in the group, which features gas turbine manufacturer GE Vernova , electrical equipment provider Eaton , and many other groups tied to nuclear energy. GE Vernova and Eaton are holdings in our portfolio. The latest move higher comes after the Energy Department announced on Thursday the "Speed to Power" initiative , which is said to "accelerate the speed of large-scale grid infrastructure project development for both transmission and generation." The Trump administration launched this initiative in recognition of how the current pace of project development falls short of the growing electricity demand needed to support artificial intelligence data centers and efforts to bring manufacturing back to the U.S. We will watch for more information about this program, but it should be a tailwind to spending for products from GE Vernova and Eaton. Next week: On the earnings calendar, portfolio name Costco reports after Thursday's closing bell. Other companies reporting next week are Micron , Cintas , KB Home , and Jabil . On the data front, we will get S & P Global PMIs, weekly mortgage applications, and weekly jobless claims — a key gauge of labor market health. On Friday, we get the August personal consumption expenditures price index, which is the Fed's preferred measure of inflation. There's also a ton of Fedspeak scheduled throughout the week to help us figure out which Fed members represented which dot on the dot plot in the summer of economic projections. 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.
KB Home Cintas Corp Micron Technology Inc Costco Wholesale Corp Eaton Corporation PLC GE Vernova Inc Boeing Co Xi Jinping Donald Trump Donald J. Trump U.S. 10 Year Treasury Invesco S&P 500 Eql Wght ETF S&P 500 Index Xi Jinping Jim Cramer Investment Strategy Markets Breaking News: Markets Homestretch Business News
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