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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 started the day on a weak note, dropping roughly 0.75% in early trading. However, stocks began to recover as the session went on — first boosted by a stronger-than-expected April ISM Services Index, and later supported by remarks from Treasury Secretary Scott Bessent at the Milken Conference and during an appearance on CNBC. The S & P 500 was off by roughly 0.2% at midday. If the broad-market index closes negatively, it will mark its first loss in two weeks, ending a nine-day winning streak that drove it up by 10%. This rally has also pushed the market further into overbought territory, based on the S & P Oscillator . When the oscillator is this overbought, we’re typically cautious about deploying new capital into the market, unless the stock in question has experienced an unwarranted, significant pullback. Sector breakdown : Performance was mixed today, with only a few sectors firmly in positive territory. Industrials led the way, with airlines in particular benefiting from falling oil prices. The other two sectors in the green were communication services and real estate. On the downside, energy was the worst performer as oil prices hit their lowest level of the year. Consumer discretionary also struggled, with Tesla , Starbucks , Chipotle , Nike , and Amazon among the notable laggards. Technology was a mixed picture. Software stocks were mostly positive with cybersecurity having a particularly strong day. Apple extended its post-earnings selloff from last Friday. Semiconductor stocks mostly declined, with On Semiconductor dropping roughly 8% after issuing mixed guidance —reflecting its exposure to automotive and industrial markets, unlike AI-focused peers such as Nvidia and Broadcom . Up next: Coming after the closing bell, Coterra Energy will report its first quarter of earnings. The conference call discussing the results will be held Tuesday. Other companies scheduled to report: Ford , Palantir , Vertex Pharmaceuticals , Mattel , Clorox , Diamondback Energy , and Hims & Hers . Before the opening bell on Tuesday, Marriott , Jacobs , Aramark , Marathon Petroleum , Kontoor Brands , Datadog , Zoetis , Ferrari , and Global Foundries will report earnings. (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.
Traders work on the floor of the New York Stock Exchange on May 1, 2025.
NYSE
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.
