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 post-election rally on Wall Street continued into afternoon trading, with the Dow Jones Industrial Average jumping 3.4%, or roughly 1,450 points, and the S & P 500 advancing 2.4%. The tech-heavy Nasdaq Composite added nearly 3%. All three stock gauges touched record highs during the session, as investors raced to buy companies that are perceived beneficiaries of another Donald Trump presidency. Trump, the Republican nominee who served as president from 2017 to 2021, recaptured the White House by defeating Vice President Kamala Harris in Tuesday night’s election, according to NBC News projections. Republicans also took control of the Senate, NBC News projected, while control of the House of Representatives is not yet determined. It’s worth noting, the stock market was reacting like Jim Cramer said it would in his Sunday column . He said a decisive win either way would remove the possibility of a protracted vote-counting battle that would stir up volatility. The one thing markets hate is uncertainty, and Wednesday’s rally can be attributed, in part, to relief that Wall Street professionals and individual investors alike know where they stand and what to expect from the country’s next president. Sector watch: The S & P 500 financials sector index was, by far, the leader in Wednesday’s market rally. Club names Wells Fargo and Morgan Stanley were soaring after the Trump win on top of their recent rallies. On discipline, we took some profits in each. We took some of that cash and bought more BlackRock , which was not really participating in the rally in financial stocks. Energy was in second place among the 11 sectors in the S & P 500, sending Club name Coterra Energy up more than 5%. This has been a tough one to own, but Jim said earlier Wednesday that he would like at some point buy more shares. It’s not our style to chase a rally like we’re seeing Wednesday. The industrials sector was the third-strongest sector — and with Honeywell up on the day, we sold into that strength a stock that has lagged its peers .
