The CNBC Investing Club with Jim Cramer releases the Homestretch, an actionable afternoon update, on weekdays just in time for the last hour of trading on Wall Street. The S & P 500 rose to a new record high, with no specific catalyst for the move. The market has been rallying amid sliding oil prices and China’s market giving back recent gains. The Federal Reserve’s September policy meeting minutes showed some disagreement among central bankers on interest rate cuts, ultimately resulting in a 50-basis-point reduction. Financials were leading the market higher, with Club name Morgan Stanley hitting a multiyear high ahead of its earnings release. Honeywell has seen solid follow-through after announcing plans to spin off its advanced materials business.
Semiconductor stocks were mixed, with Club stocks Nvidia and Advanced Micro Devices slightly down but Broadcom hitting a new all-time high. AMD’s upcoming Advancing AI event on Thursday is expected to introduce new products and potentially raise its full-year AI sales forecast. Analysts are eager to see if AMD will provide a 2025 AI sales target and announce another cornerstone customer of its AI chips. Earnings for AMD are coming up later this month, with expectations for management to adjust guidance at that time. In addition, analysts are curious about more insight into the ZT Systems acquisition, announced in August.
On the horizon, there are no major earnings after Wednesday’s closing bell or Thursday’s open. The September CPI report is expected to show a continued deceleration in inflation. As a subscriber to the CNBC Investing Club with Jim Cramer, members receive trade alerts before Jim makes a trade. Jim follows specific guidelines before executing a trade, including waiting 45 minutes after sending a trade alert and 72 hours after discussing a stock on CNBC TV. It is important to note that the information provided by the Investing Club does not create a fiduciary obligation or guarantee specific outcomes or profits.
Overall, the market has seen a rally in U.S. stocks amid sliding oil prices and China’s market giving back recent gains. The Federal Reserve opted for a 50-basis-point reduction in interest rates at its September policy meeting, resulting in disagreement among central bankers. Financials have been leading the market higher, with strong performances from Club name Morgan Stanley and Honeywell. Semiconductors have been mixed, with Club stocks experiencing slight fluctuations. AMD’s upcoming Advancing AI event is eagerly anticipated, with expectations for new product introductions and potential guidance adjustments. Analysts are keeping a close eye on AMD’s guidance and potential announcements regarding its AI chips and ZT Systems acquisition.
