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: The S & P 500 turned relatively flat Wednesday after trading higher for most of the morning. Disappointing reactions to earnings were partly to blame. Dow component Caterpillar was weighing on the 30-stock average after missing estimates on both quarterly revenue and earnings. Then there were selloffs in Club stocks Eli Lilly and Advanced Micro Devices after their earnings releases. Lilly’s GLP-1 obesity and diabetes drugs surprisingly came up short versus the consensus due to confusing inventory destocking dynamics and management shaving the top end of its full-year sales guidance. AMD’s financials hit their marks but didn’t satisfy investors who want to see faster artificial intelligence accelerator sales growth sooner. We think both selloffs represent long-term buying opportunities. The Nasdaq , meanwhile, was also basically unchanged, supported by the post-earnings pop in Club stock Alphabet . The tech-heavy index posted a record-high close in the prior session. Yields, yielding : The bond market was not a headwind in Wednesday’s session, with the 10-year Treasury yield dipping to about 4.26%. It got as high as 4.339% at one stage on Tuesday. Recently, rising bond yields have created some havoc in stocks that have been waiting for lower interest rates to accelerate their businesses. So, the action since Tuesday’s highs was a much-needed reprieve. Club name Stanley Black & Decker is a good example of this as the poster child of Federal Reserve rate plays. While management is doing a solid job taking out costs and expanding margins, the toolmaker’s business will struggle to grow until mortgage rates recharge the existing home market. That’s why the company delivered a strong quarterly earnings beat but gave cautious commentary through the first half of 2025. Shares briefly traded below $90 each Tuesday but one day later rebounded to around $95, thanks in part to the recent drop in yields. Fed-pectations : Expect volatility in the bond market on Thursday after the PCE price index is released at 8:30 a.m. ET. This is the Fed’s favorite inflation gauge, and the data should give us a better indication of what central bankers may do at their Nov. 6-7 meeting. The market still overwhelmingly expects the Fed to cut its target rate by 25 basis points following its jumbo 50-basis-point cut in September that kicked off the central bank’s monetary easing campaign. Up next: We have a busy night of earnings ahead. Club names Meta Platforms , Microsoft , Starbucks , and Nextracker all are scheduled to report after the closing bell. Coinbase, Robinhood, Etsy, Carvana, Roku, DoorDash, and MGM Resorts are some other companies reporting. In the morning, we get quarterly numbers from Club holdings Linde and Ea ton. Uber, Merck, ConocoPhillips, Estee Lauder, Mastercard, Roblox, Bristol-Myers, and Quanta Services are some other notable names out before Thursday’s open. (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 the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
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.
Eli Lilly, AMD post-earnings declines are buys. Happy to see SWK stabilize
