The best and the worst sectors in the stock market during this recording-setting week
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. (We’re no longer recording the audio, so we can get this new written feature to members as quickly as possible.) Market wrap: It’s day two of muted action in the market, which was trading in a tight range on a light news day to close out the week. This follows an eventful Wednesday when the S & P 500 rallied to new highs and Treasury yields plummeted in response to a cooler-than-expected consumer price index. But after four straight weeks of gains, which pushed the market into overbought territory, we’re not surprised to see Wall Street take some time to digest the gains. Top performers : Tech was the star sector this week, thanks to big gains in artificial intelligence and data center plays like Super Micro Computer and Advanced Micro Devices . Club names Broadcom and Nvidia were strong performers too. The new AI-related innovations that Alphabet ‘s Google and Microsoft -backed OpenAI announced might have been the one catalyst for the group move. It was also a good week for the cybersecurity stocks like Palo Alto Networks . Both Nvidia and Palo Alto report earnings next week. Real estate was the second-best performing group, benefiting from the pullback in bond yields. However, it remains the lone sector in the red year to date. Communication services and health care flipped between third and fourth. On the downside : The industrials were the worst performing sector this week, a bit of a surprise given how strong the group has been of late. Deere was one of the laggards after cutting its full-year outlook. Consumer discretionary was second from the bottom, and the weak retail sales report sure didn’t help the softening consumer thesis. The counter to that argument would be the blowout quarter from Walmart , though the giant retailer caters more to the value-seeking consumer. We’ll start seeing more retail stores and apparel brands report earnings next week. Macy’s , TJX Companies , Target , Williams-Sonoma , Ralph Lauren , and Deckers Outdoors are some of the big ones. The materials and energy sectors are on track for slight gains, both thanks to nice moves on Friday. It’s good to see Coterra Energy have an up week. The stock was upgraded to buy at Truist on Thursday. A rally in natural gas Friday was sending the commodity into positive territory for the year. We think the energy needed to power data centers in the future will be a nice tailwind to nat gas prices down the line. (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. (We’re no longer recording the audio, so we can get this new written feature to members as quickly as possible.)
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