Every weekday the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable update of the trading day, just in time for the last hour on Wall Street. We’re no longer recording the audio, so we can get this new written feature to members as quickly as possible. Here’s Monday’s edition. Off the lows : The week got off to a slower start but stocks Monday afternoon were well off their lowest levels of the session. The story of the day may be in the bond market, where yields are surging on Federal Reserve Chairman Jerome Powell’s interest rate cut comments on “60 Minutes” amid ongoing strong economic data. Our Significant Six stocks were having a mixed day. Nvidia surged to yet another all-time high, while Amazon and Meta Platforms gave back some of last Friday’s big gains. Believe it or not, Apple shares rose Monday — now higher than where they traded ahead of last Thursday’s earnings. Alphabet was up after underperforming last week. Microsoft was down. “Microsoft is the one to buy first on weakness due to the quality of last week’s quarter and outlook,” Jim Cramer said Monday. Show-me story : Shares of prestige beauty company Estee Lauder were up more than 12% in reaction to earnings but off session highs. Here’s what Jim and I need to see next to upgrade our 4 rating on the stock. It’s certainly a show-me story. “Reduction in the workforce is a positive step in addressing costs, but our next question is how are they going to recover brand equity after shoving so much inventory through travel and retail and then dumping it at bargain prices,” Cramer said. Sector leaders : Information Technology was the leader Monday, thanks to continued strength in the semiconductor stocks. More analyst love for Nvidia and not-as-bad-as-feared earnings from On Semiconductor were boosting the group. Health care was up thanks to a big move in its largest weighting: Club name Eli Lilly . Earlier Monday, Novo Nordisk announced it will acquire the contract…
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