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 : Stocks were chopping around for a second straight session as Wall Street braces for the Federal Reserve’s interest rate decision on Wednesday afternoon. It’s widely expected that the central bank, in a split vote, will cut interest rates by 25 basis points. It would be the third Fed rate cut this year and the sixth since central bankers started easing monetary policy back in September 2024. Financials : The bank trade has been one of the strongest in the market since New York Fed President John Williams said on Nov. 21 that a rate cut at the December meeting was possible. The Invesco KBW Bank ETF has gained about 10% since then, which is roughly double the return of the S & P 500 . The exchange-traded fund hit a new high early Tuesday. The banks lost some steam, however, after JPMorgan ‘s CEO of consumer and community banking, Marianne Lake, called the consumer environment
