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 on Wednesday was on pace to snap a four-session losing streak that resulted in a pullback of about 3.4% as of Tuesday’s close. The direction of the market Thursday likely depends on what Nvidia ‘s earnings show after the bell. What the AI platform maker has to say about the sustainability of AI spending, and the return its customers get on their significant investments, are among the questions we want answers to. Shares of Nvidia were up 2% in Wednesday afternoon trading to around $185. However, the stock is still 10.6% lower than its record-high close of $207 on Oct. 29. Unlike previous quarters, Nvidia shares are not coming into the print super hot. On sale: Costco shares on Wednesday were hovering just above their 52-week low. But we’re still a buyer of the wholesale retailer’s stock. It’s been a tough year for Costco. After making a new all-time high in February, and quickly rebounding from its early April “liberation day” lows back to those levels in June, the stock has been sliding ever since. For the year, shares are down more than 3% compared to the S & P 500’s 12% advance. Costco has always been an expensive stock on a price-to-earnings basis because of its durable business model and recurring membership fees. But Costco trading at 44 times forward earnings is a rare opportunity for investors since the stock has historically held an even more premium valuation north of 50. At the same time, Jim Cramer expressed his concern with the price action of stock, which was down more than 1% on Wednesday. “It’s disconcerting to me that it’s down given that I think they’re doing quite well,” Jim said on “Squawk on the Street.” He added, “I remain long Costco as I have been for ages” in the Club portfolio. Costco deserves its premium valuation because of its strong customer traffic, recurring membership revenue, and the value it offers members during a time when consumers are cautious about where they spend their money. Our most recent buy was on Sept. 30. Better wealth : Goldman Sachs ‘ asset and wealth management (AWM) division is on track to beat the firm’s previous forecast of a high-single-digit annual revenue growth, CEO David Solomon told CNBC Wednesday. “We’re doing better than that right now,” he said, adding that Goldman is considering more deals to grow AWM, the bank’s second-largest division by revenue. Within the past year, management announced plans to buy venture firm Industry Ventures and took a stake in asset manager T. Rowe. “We benefit from the fact that we generate a lot of capital,” Solomon said. “That capital either needs to go into the business to serve our clients, or it needs to go into things that can grow and expand our client franchise, or it needs to go back to shareholders.” The CEO also praised Goldman’s investment banking unit, a key reason why we started a position back in December 2024. “We’re in an environment where you’re really going to see the benefits of that [M & A] franchise,” Solomon added. In the third quarter , which was reported last month, Goldman grew its global banking and markets revenue, which houses investment banking, by more than 18% year over year. AWM grew more than 17%. Goldman shares closed at a record high of nearly $839 last Wednesday. The stock has backed off a bit, but was still up more than 36% year to date. Up Next: It’s a big night of earnings with portfolio names Nvidia and Palo Alto Networks scheduled to report. Before Thursday’s opening bell, Walmart reports its quarter, a day after Target disappointed and TJX surprised. After a long delay due to the government shutdown, the September nonfarm payrolls report is set for release on Thursday at 8:30 a.m ET. The economy is expected to have added 50,000 jobs in the month, according to FactSet. While September is expected to show job gains, October may have been a worse month due to a surge in layoff announcements . The Bureau of Labor Statistics said Wednesday it won’t release the October report. Instead, the agency will release October data alongside the November report, which is now scheduled for Dec. 16. The delay means the most recent jobs data will come after the Federal Reserve’s Dec. 9-10 meeting. The Fed appears torn on whether another interest rate cut in December is appropriate, and having that data could have helped voting members with their decision. As of now, the probability of a 25 basis point rate cut in December sits at about 32%, down from 63% one week ago, according to CME Fed Watch. The Fed cut rates by 25 basis points in September and October. Minutes from the Fed’s October meeting , out Wednesday afternoon, shed more light on the divided cut last month and doubts about December. (See here for a full list of the stocks in Jim Cramer’s Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . 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