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: Stocks were lower Thursday as the market continued to digest the latest trade policy headlines. The S & P 500 fought its way to positive territory a couple of times during the session. Defensive sectors with limited economic sensitivity like staples and utilities are outperforming — but those rarely have the makings of a good rally. Tech troubles : Weakness in technology and the artificial intelligence trade remained drags on a market that struggled with conflicting headlines about the pace of the data center buildout and AI usage. On Wednesday, a TD Cowen note that said Microsoft is canceling data center leases sparked fears about the group, with investors ignoring how the report also mentions that Cowen’s checks indicate data center demand is up year over year and that Alphabet and Meta Platforms quickly swooped in to take Microsoft’s capacity. That, plus real estate firm Related Companies saying Thursday it plans to raise $8 billion for data center developments sounds positive to us. Another bullish headline was an update from OpenAI CEO Sam Altman who said ChatGPT’s GPUs “are melting” following increased usage of a new image generation feature on the AI model. However, the market’s appetite for AI stocks will be put to the test later Thursday evening. That’s when CoreWeave is expected to price its IPO. Key approval: Abbott Laboratories is one of the biggest gainers in the S & P 500 on Thursday after the diversified healthcare company received a significant regulatory win for one of its medical devices. The Club company announced that it has received approval in Europe for its Volt PFA system, which is used to treat patients with atrial fibrillation (AFib). PFA stands for pulsed-field ablation. The approval came in earlier than expected, according to analysts at Piper Sandler, who said Thursday that this approval increases their confidence in Abbott’s ability to grow its electrophysiology business in the high single digits this year, with accelerating growth in 2026. Meanwhile, TD Cowen said they expect the FDA to approve the system in the first half of 2026. This positive development is significant for Abbott as it works to gain ground on Medtronic and Boston Scientific in the PFA market. Up next: The big earnings report after the closing bell is Lululemon . The results and outlook from the athleisure wear company will be a new data point about the state of consumer spending. Inflation will be in focus Friday, at 8:30 a.m. ET, when the February PCE price index is released. The index, the Fed’s preferred inflation gauge, is expected to have increased 2.5% year over year in February, steady from the month before. The core reading, which excludes volatile food and energy prices, is expected to rise 2.7% in February, up from 2.6% gain in January. Then at 10 a.m. ET, the final read on March University of Michigan consumer sentiment and inflation expectations is out. Recent survey data has shown weakening consumer sentiment along with increasing one-year inflation expectations — which makes for a double whammy when thinking about the economy. (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.
