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 rebound: Stocks were rebounding to start the week, recovering some of Friday’s steep losses. It looked like some dip buying after last week’s brutal start to September, a historically tough month for stocks. All S & P 500 sectors on Monday were trading firmly in positive territory. Cyclical stocks were outperforming — with financials, industrials, and consumer discretionary leading the way. Communication services was at the bottom of the list — mostly due to weakness in Alphabet. Defensive groups such as utilities, health care, and consumer staples lagged. Information tech was somewhere in the middle. Glowtime: We’re keeping track of the new product announcements at Apple’s Monday launch event, which was still ongoing when we published Homestretch around 2:15 p.m. ET. The event started with new Apple Watches and AirPods. Then, came what investors were waiting for: details on the new iPhone 16. Apple left the pricing unchanged for the base model at $799 and at $899 for the Plus. However, the market did not initially think that the event was living up to the lofty expectations. Atlanta GDP: We don’t often mention updates to the Atlanta Fed’s GDPNow model, which in its own words is a “running estimate of real GDP growth based on available economic data for the current measured quarter.” We now think it’s important to keep track of it after the stock market sold off last week on recession fears tied to a weak ISM manufacturing report and soft jobs number. Dispelling this notion, GDPNow raised its third-quarter gross domestic product estimate to 2.5% from its last update of 2.1% on Sept. 4. To be sure, a 2.5% GDPNow growth estimate doesn’t suggest a roaring economy. But, it’s still solid as we wait for Fed monetary policy to become less restrictive in the months ahead. Up next: Oracle reports earnings after the closing bell, providing insights into data center investment and demand for AI infrastructure. At the Barclays Global Financial Services conference on Tuesday, big banks including Morgan Stanley and Wells Fargo are scheduled to provide their intra-quarter updates. (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.
FOLLOW US ON GOOGLE NEWS
Read original article here
Denial of responsibility! Secular Times is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email –
seculartimes.com. The content will be deleted within 24 hours.
