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. (We’re no longer recording the audio, so we can get this new written feature to members as quickly as possible.) Fundamentals over Fed: Markets shrugged off the slightly warmer-than-expected February consumer price index report , which did not change Wall Street’s view of a possible Federal Reserve interest rate cut as early as June. If you had told us at this time Monday that CPI was going to be elevated and yields on the 2-year and 10-year Treasury notes would rise, we would have figured the market was due for another down day. Instead, investors shifted their focus back to earnings, which is the principal driver of stocks in the long run. Upbeat commentary Monday night from Oracle brought investors back into the Nvidia-led artificial intelligence, Nasdaq and momentum trade after a few days of rest. The tech-heavy Nasdaq jumped more than 1% Tuesday, while Nvidia added more than 5%. GE Healthcare updates: GE Healthcare CFO Jay Saccaro spoke at Oppenheimer’s annual Healthcare MedTech & Services conference. The conversation generally served as a reiteration of the investment case rather than offering the latest information on business trends. For example, Saccaro pointed out that China, which represents about 14% of GE Healthcare’s business, is an important market, but also is “not absolutely crucial.” The company’s business in China is expected to have a lopsided 2024, with growth concentrated in the back half of the year, following an uneven 2023. Last year, its revenue surged 20% organically in the first six months due to government stimulus measures before going through a rough patch in the second half due to Beijing’s anti-corporation campaigns in the health-care industry. Still, GE Healthcare is navigating China much more adeptly than its peers, creating a source of upside versus…
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