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. Markets: The S & P 500 briefly touched 6,000 as the rally to record highs continued. It’s the fourth positive session in a row for the broad-based index, which is up nearly 4% since the presidential election. Interestingly, the yield on the 10-Year Treasury is pacing to finish the week lower despite a huge swing higher in reaction to the election outcome. Donald Trump’s victory has caused bank and industrial stocks to surge on the expectations of less regulation and a pro-business environment. Companies at risk of tariffs on goods made in China have sat out the rally. Adding insult to injury, China-related stocks felt additional pain Friday on yet another disappointing stimulus update. What the market wants to see is the Chinese government put cash directly in the hands of people to boost consumption. Tech lags, staples shine : Technology stocks are a notable underperformer Friday, with all the Magnificent 7 in the red except for Tesla . Disappointing 2025 guidance from Arista Networks could be one culprit, but there’s probably some conservatism there. All the major cloud hyperscalers increased their capex expectations this past earnings season, supporting a rosy growth outlook for tech spending in 2025. The staples stocks are making a curious move high for reasons that aren’t immediately clear. Costco is the second-best performer in the sector, ripping more than 4% to another new all-time high. The only piece of news this week on Costco was Wednesday evening after it reported another strong set of monthly sales. Eli Lilly: Shares of Eli Lilly are finally putting together back-to-back sessions of gains. Thursday was the stock’s first positive session since its very disappointing quarter and outlook cut on Oct. 30. Eli Lilly shares traded at $903 before the quarterly report, putting the post-earnings pullback at about 7%. What could be helping the stock Friday is a positive research note from analysts at Wells Fargo. The analysts, who have an overweight rating on Lilly with a $1,000 price target, met with the company’s management team including CEO David Ricks for a two-day roadshow. The big takeaway from the note was that the third-quarter sales miss was not based on fundamentals or underlying demand, which was characterized as strong. Instead, it was due to the destocking dynamics we wrote about in the quarter. Wells added that management is
