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. Markets: Stocks rose Monday but were off their highs of the session in afternoon trading. The S & P 500 is hovering right around its record close of 5,713.64 set on Thursday. There’s been some small change in what’s working Monday since the Morning Meeting. After struggling near the open, consumer staples is making a push higher on the daily S & P 500 sector leaderboard. The company leading the staples in the session is Club holding Constellation Brands , which is up around 3% to nearly $256 a share. The Corona and Modelo maker also is the top-performing Club stock Monday and on pace for one of its best days of the year. We’re not entirely sure why it’s having such a big move, though Piper Sandler on Sunday told clients Constellation’s sales and volume growth in the four weeks ended Sept. 8 was the best in its beverage coverage universe. In any case, fellow alcohol firm Brown-Forman and several other beverage stocks also are having a good trading day. Health care is currently the worst-performing sector Monday. Our health-care stocks are a mixed bag: Abbott Laboratories and GE Healthcare are higher while Danaher is about flat and Eli Lilly is off about 1%. Lilly is falling in sympathy with Wegovy maker Novo Nordisk , which is seeing some pressure due to GLP-1 drug price scrutiny . The tech sector is still lower, weighed down by megacap names such as Club holdings Apple , Microsoft , Nvidia and Broadcom . Discretionary leads : The top-performing sector so far Monday is consumer discretionary. There’s no discernable trend here. On the one hand, Tesla and Chipotle are having strong days. But on the other hand, General Motors and Starbucks are two companies toward the bottom of the daily list. In general, lower interest rates are perceived to have a positive impact on consumer discretionary companies because lower rates could help boost hiring growth and take pressure off the consumer. Up next: There are no major earnings after the closing bell Monday. AutoZone and Airstream maker Thor Industries are set to report Tuesday morning. On the economic data side, there is a series of lower tier reports Tuesday including the Philadelphia Federal Reserve’s nonmanufacturing business outlook survey, the Conference Board’s monthly look at consumer confidence, and the Richmond Fed’s manufacturing activity index. (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.
