Every weekday the CNBC Investing Club with Jim Cramer releases the Homestretch audio feature in time for the last hour of trading on Wall Street. Here’s today’s edition. Stocks continue to gravitate higher Monday. A positive week would make it seven straight for the S & P 500. Bonds yields remain in check, 10-Year yield is up slightly but still below 4.0%. After being on the wrong side of the rotation a few days last week, the market is coming right back to the Magnificent 7. Shares of Amazon , Alphabet , Meta Platforms , and Nvidia all up more than 2% today. “To see them rotate again is a testament to how many of these companies are doing so well that you really can’t avoid them,” Jim Cramer explained. As flurry of mergers and acquisitions could also be improving sentiment. Japan’s Nippon Steel announced Monday it will acquire American manufacturer, U.S. Steel. There are a handful of other small deals happening as well. We’ve been saying that deal activity should pick up once the Federal Reserve signals it’s done raising rates. This is one of the reasons why we held onto and added to Morgan Stanley . On the downside, Jim has been disappointed in Foot Locker since the company hasn’t been able to increase its cash position. FL remains a highly volatile stock and in the basket of what rallies when rates go down, rally broadens out. “We’re not out of the woods yet,” Jim said. This is because the company is still holding a lot of inventory. Management has a chance to turn over that merchandise during this critical holiday shopping season. We’ll be keeping an eye to see if that improves. (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…
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