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. Market moves: It’s been a volatile session. The S & P 500 on Wednesday afternoon briefly sold off after it was reported that President Donald Trump told Republican lawmakers he planned to fire Federal Reserve Chairman Jerome Powell if they gave him approval to do so. Trump’s main issue with Powell is the Fed’s reluctance to cut interest rates, making it ironic that longer-term interest rates jumped immediately after the news broke. But stocks rebounded and rates dipped after the president denied he was close to firing Powell, stating it was “highly unlikely.” Power deal: Eaton announced a small acquisition early Wednesday. The company bought Resilient Power Systems, a North American developer and manufacturer of energy solutions. Resilient’s solid-state transformer-based technology is primarily used for electric vehicle charging depots. Still, Eaton said it thinks it can potentially expand this application to data centers and energy storage. No terms were announced, suggesting this was a very small deal that probably won’t move the needle in the short term. However, it should provide Eaton with more exposure to fast-growing markets, and that’s something we appreciate. On Tuesday, Eaton announced a collaboration with fellow portfolio holding Nvidia to power AI data centers. Up next: United Airlines , Alcoa , and Kinder Morgan are set to report earnings after Wednesday’s closing bell. On Thursday, we get quarterly results from Club name Abbott Laboratories , as well as Taiwan Semiconductor Manufacturing , GE Aerospace , and PepsiCo . On the data side, Thursday morning brings June retail sales, which are expected to show an increase of 0.2% month over month, according to FactSet. This report follows a 0.9% retail sales decline in May, a result that was much weaker than expected . New numbers on retail sales, which are not inflation-adjusted, also follow this week’s reading that showed an update in June consumer prices. (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 . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
