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 is slightly higher and on pace to break a three-day losing streak, but it’s been a choppy session. The tech-heavy Nasdaq is outperforming the S & P 500 and Dow Jones Industrial Average thanks to Tesla ‘s 20% surge on earnings and an upbeat outlook. There’s some strength in other parts of the broader technology complex such as software. Club names Salesforce , Palo Alto Networks and CrowdStrike are higher after ServiceNow ‘s strong quarter. Salesforce also had its price target raised to $330 a share from $300 by Oppenheimer. More broadly, equities may be getting some help from the bond market. The yield on the 10-year Treasury note pulled back below 4.2% after hitting its highest levels since late July on Wednesday. Industrial pain : The industrials are having a rough day. Portfolio stocks Honeywell and Dover aren’t the only ones lower after earnings . Carrier Global is the worst-performing stock in the group after its HVAC sales disappointed. Aerospace player Textron fell after it missed earnings estimates — though its own machinists union strike pressured the results — while railroad operator Union Pacific missed on both revenue and earnings. Sure, United Parcel Service is rallying on earnings. But its stock entered the session down 16% year to date and sentiment was terrible after Barclays downgraded UPS to a sell-equivalent rating on Monday. Expectations matter during earnings season. A better-than-feared quarter when the bar is low can sometimes lead to a more positive one-day stock reaction than a beat-and-raise print from an existing outperformer. It’s a good lesson to remember going forward. We’re still early into third-quarter earnings season, but some of the biggest upside surprises in this sector are coming from companies tied to aerospace, data centers, and the power generation theme. In other areas, there appears to be some caution tied to election uncertainty while others are still feeling the effects of higher interest rates. Dover CEO Richard Tobin discussed the dynamic on the company’s third quarter earnings call earlier Thursday .
