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. Wall Street’s wild week: Stocks rallied Friday as investors tracked the latest developments in the U.S.-China trade war. The White House on Friday afternoon signaled that it’s hopeful China will seek a deal with the U.S. That comment follows Beijing earlier Friday raising its tariffs on the U.S. to Friday to 125% from 84%, in response to President Donald Trump upping the duty rate on Chinese imports to 145%. These are some of several headlines that have caused major stock averages to whipsaw this week on economic and policy uncertainty. Case in point: On Wednesday, the S & P 500 secured its third-largest advance in a single session since World War II, but then gave back a large chunk of those gains during the Thursday sell-off. Monday and Tuesday also saw big swings intraday. Through it all, the S & P 500 is still set to close the week more than 5% higher, its best weekly performance since the week of the November election. As for the Club’s portfolio, Wells Fargo and BlackRock swung throughout Friday trading following first-quarter earnings reports in the morning. Wells Fargo shares fell as much as 5% after the bank posted slightly lower-than-expected quarterly revenues and a decline in net interest income. These losses narrowed to 1% by the afternoon, coinciding with the broader market rally picking up steam. Meanwhile, shares of BlackRock added nearly 3% after reporting solid results for the January-to-March period despite a rocky operating environment. Our views on both financial names haven’t changed after the results. Chipping away: In one of the most volatile weeks in Wall Street’s history, our two chipmakers stand out as the best-performing Club stocks: Broadcom has jumped more than 22% week to date while Nvidia has advanced around 17%. It partially reflects the dynamic we highlighted earlier this week: When the market bounces back from a steep sell-off, some of the hardest-hit names tend to lead the way higher. Broadcom and Nvidia both dropped around 15% during last week’s two-day plunge on Trump’s initial
