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 closing out the week on a slightly lower note, taking a breather after notching a new all-time high on Thursday. It’s been a great stretch for stocks, with the S & P 500 on track to post back-to-back weeks of strong gains. However, the pause on Friday may be about the market looking slightly overbought — per our trusted momentum indicator, the S & P Short Range Oscillator — ahead of a huge week for earnings, Federal Reserve commentary ,and economic data. Earlier Friday, we took some chips off the table and raised cash by trimming our Stanley Black & Decker position. Successful sectors : The biggest winner of the week was the communication services, fueled in large part by Netflix’s huge advance on the back of blowout quarterly results. Club name Meta Platforms also outperformed, benefiting from uncertainty around TikTok and, on Friday in particular, a Facebook post by CEO Mark Zuckerberg that said the company intends to invest $60 billion to $65 billion this year in artificial intelligence. Meta has proved its aggressive AI investments are paying off through increased user engagement and improved ad monetization, so the market viewed the higher spending as good news. The company also announced Friday it has started testing ads on Threads, its app to rival X, formerly Twitter. Health care was the second-best performer, rallying a week after the newsmaking JPMorgan Healthcare Conference. Vaccine maker Moderna was the top-performing stock in the sector, but Club holdings Abbott Laboratories , Eli Lilly , and Bristol Myers Squibb were inside the top five weekly gainers. The timing worked out well for the Club since we added to our Bristol Myers position last Friday and added to our Lilly position on Monday. Lone loser: The worst performing sector this week — and the only group to finish in negative territory — was energy. Halliburton led the sector to the downside after a negative reaction to its fourth-quarter earnings report. Oil prices also came under pressure this week after President Donald Trump pushed for a return to a
