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 check in: Stocks are mixed Wednesday, with the S & P 500 inching higher to another record. The The Nasdaq also is modestly higher, while the Dow is basically flat. If not for the late push in the final few minutes of Tuesday’s session, it would be the third day in a row of low volatility at the S & P 500 index level and general choppy action. Declines in Amazon and Meta Platforms , among the heaviest-weighted stocks in the S & P 500, continue to weigh on the index. For Meta, its back-to-back days of losses roughly erase the last 9 days of its 20-session win streak. The stock’s more than 4% decline over the past two sessions is minor in the context of its 20% year-to-date gains. However, this stairs-up, elevator-down action is another good reminder of the importance of periodically taking profits after a big move, especially when it is based on momentum and not new information. That’s largely what we saw with Meta, and accordingly, we booked some big profits in the stock a week ago when its winning streak hit 18. Homebuilders and housing-related stocks are another notable area of weakness. The group’s declines this week come after disappointing home builder sentiment , weaker-than-expected housing starts, and a revenue miss from luxury builder Toll Brothers . Club name Home Depot should have a better story to tell next week when it reports earnings thanks to some hurricane-related cleanup spending at its stores. New kid on the block: Apple announced its newest member of the iPhone 16 family: the iPhone 16e. This lower-cost iPhone may not have all the features of the regular iPhone, but it is still powerful enough to support Apple Intelligence, the company’s suite of generative AI features. The idea behind these lower-cost models is to get more people into the Apple hardware ecosystem. The more hardware devices in circulation creates more opportunity for Apple to attach higher-margin services such as iCloud storage and payments from Apple Pay. Shares of Apple on Wednesday reversed their early losses and pushed into positive territory shortly after the announcement. That has the stock on track for its sixth positive session out of the past seven. Up next: Carvana , Cheesecake Factory , Tanger and CF Industries report after the closing bell Wednesday. Walmart is the headliner reporting before the opening bell Thursday, but we’ll also see the quarters from Chinese tech giant Alibaba , Shake Shack , Hasbro , Pool Corp , and Wayfair . Don’t forget to mark your calendars for noon ET Thursday, when our February Monthly Meeting for Club subscribers kicks off. (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.
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.
