Every weekday the CNBC Investing Club with Jim Cramer releases the Homestretch audio feature in time for the last hour of trading on Wall Street. Here’s today’s edition. There’s a rotation happening in the final hours of the trading day Friday where some of this year’s laggards that have beaten up since the Federal Reserve started raising interest rates have been playing catch up. Meanwhile heavy-weight tech stocks including Alphabet (GOOGL) and Microsoft (MSFT) are down 1.6% and 0.75% respectively. The S & P 500 on track for fourth straight day of gains and three straight weeks of big weekly gains. Shares of Palo Alto Networks (PANW) are rebounding Friday after yesterday’s post-earnings pullback. The cybersecurity leader reported a strong fiscal 2024 first quarter Wednesday, but the stock faltered after management lowered its full-year billings outlook. If a billings outlook is lowered, it could be a sign the company is seeing worsening demand trends. The company blamed the high cost of money which is why customers are taking fewer duration contracts. Still, “demand is incredible and profits are strong” Jim Cramer said. This is the highest growth area of the economy and that’s why we thought the pullback was a buying opportunity. (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.
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