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. Choppy day: The market was lacking momentum in either direction as it digested a slew of Dow industrial component earnings reports. Some standouts to the upside were Verizon and Club name Procter & Gamble . Meanwhile, Johnson & Johnson beat but the stock was lagging and 3M got slammed. Inflation still here: Jim Cramer said Tuesday he’s observed that companies are still dealing with inflation. “This is not what we want to hear,” he said. This hasn’t been good for some stocks that performed well into the end of 2023. What happened was a lot of stocks rallied in November and December as Fed interest rate cuts started to get priced into the market, starting as early as March. That put them at valuations that reflected sanguine times compared to what we’re seeing in 2024 guidance, which hasn’t been that great. Bucking the trend: However, inflation at P & G has gone down with input costs coming in lower . That’s how it was able to get a huge gross margin upside in its latest earnings report. We’re moving our rating on P & G stock to a 2 , because the stock was up on a spike not typical for a defensive stock like this. Club winners: Names doing well Tuesday were Meta Platforms after Citi raised its price target to $440 per share from $425. Ford was also having a good day, and so were our banks Wells Fargo and Morgan Stanley . Estee Lauder was higher, possibly on China taking steps to stabilize its stock market. However, Jim said he’s not convinced that on China’s apparent rescue package. “People feel like China’s problem is going away today,” Jim said. “I think it’s a huge stretch and I’m not buying into it.” In other words, our China-tied stocks might not get any ripple-effect benefit. Club laggards: GE Healthcare and Stanley Black & Decker were lower. We tend to see these names move inversely to rates. Salesforce was down even after Baird raised its price target to $310 per share from $300. Disney was also lower, maybe it’s because Netflix is getting into live programming through its deal with the WWE parent TKO . (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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