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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 update: Stocks fell to start this busy week of corporate earnings and economic data. This comes after a roughly 4.5% rally in the S & P 500 last week that pushed the market to its highest levels since the tariffs announcement on April 2. The rally also pushed the S & P Oscillator into overbought territory with a reading of 5.22%. The last time the market was overbought was the end of January. Anything north of 4% suggests the market is overbought and could be vulnerable to some digestion or a pullback. It took about three weeks for the market to move from a historically oversold level to overbought . The Oscillator hit a low of minus 10.62% on April 8, the day before the Trump Administration announced a 90-day pause on its so-called reciprocal tariffs; anything below minus 4% indicates the market is oversold. We booked profits in CrowdStrike earlier Monday in keeping with our discipline to sell when the market is overbought. Palo Alto’s small buy: Cybersecurity firm Palo Alto Networks on Monday announced it is acquiring Protect AI for undisclosed sum . According to the press release, Private AI is a leader in securing the use of AI and machine learning applications and models. In a note Wednesday, Truist characterized the deal “as positive as it bolsters PANW’s security platform and accelerates its product roadmap in the nascent AI security space.” Analysts at Cowen expressed a similar view. We don’t have much more to add, other than CEO Nikesh Arora is no stranger to strategic acquisitions aimed at expanding the company’s platform offerings. This latest deal follows that familiar playbook. Up next: It’s the biggest week of first-quarter earnings season, with about one third of the S & P 500 scheduled to report. After the closing bell Monday, we’ll see earnings from Cadence Design Systems , NXP Semiconductors , Nucor , and Waste Management . Companies reporting before the opening bell Tuesday include Honeywell , UPS , Pfizer , General Motors , Coca-Cola , Novartis , BP , AstraZeneca , PayPal , Sherwin-Williams , Spotify , Brinker , Royal Caribbean , Sofi , and Corning . On the data side, we’ll see the Labor Department’s closely watched Job Openings and Labor Turnover Survey. (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.
Nikesh Arora, CEO of Palo Alto Networks and formerly SoftBank Group Corp. President and COO, speaks during the SoftBank Academia Special Lecture with Chairman and CEO Masayoshi Son in Tokyo on October 22, 2015.
KAZUHIRO NOGI | AFP | Getty Images
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.
