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: Stocks lost some momentum in afternoon trading after the S & P 500 had mounted a rally back above 6,000. The broad index was roughly flat around 2:45 p.m. ET. Meanwhile, the Dow Jones Industrial Average held on to minor gains. The tech-heavy Nasdaq was slightly lower. The bond market is a thorn in the side of the equity market, just as it was in Tuesday’s session . Initially, the yield on the 10-year Treasury note dropped after the October consumer price index report was exactly in line with economist expectations. But the pullback was short-lived as yields are now up in the session. Coterra update: Investors seem like to Coterra Energy’s acquisition splash announced earlier Wednesday. Shares of the oil-and-gas producer are up more than 2% in the session and outperforming the S & P 500’s energy sector. Coterra is paying $3.95 billion ($2.95 billion in cash and $1.0 billion in stock) to acquire a pair of privately held firms: Franklin Mountain Energy and Avant Natural Resources. The deals beef up Coterra’s presence in the Permian Basin by adding acreage in New Mexico that is adjacent to its current land. The Franklin and Avant acreage has a higher mix of oil than natural gas, which is better for margins and cash-flow generation. Importantly, Coterra believes these deals will be highly accretive without
