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. New highs (again): The market is extending its recent win streak, with the S & P 500 and Nasdaq rallying for the seventh session in a row. The gains picked up steam in the late morning to early afternoon as Federal Reserve Chair Jerome Powell answered questions from the House Financial Services Committee. Once again, Powell said a lot of the right things, acknowledging how the central bank now must balance risks of elevated inflation with economic activity and the labor market. Powell also said that the Fed won’t wait until inflation reaches its 2% target before lowering interest rates.
