adminEvery 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. The Magnificent 7 and tech stocks are hurting yet again Thursday. Other than yields inching higher, there isn’t anything in particular causing the moves lower. Earlier this week we said these Big Tech names have had a great run this year and investors are ringing the register. That’s what we did when we right sized our Meta Platforms (META) position and Alphabet (GOOGL) trimming both stocks after both stocks moved higher after earnings. That allows up to put some cash to work and build up our position in quality companies like Eaton (ETN). Earlier this week we trimmed industrial giant Emerson Electric (EMR) to buy the machinery manufacturer. Eaton is exposed to key markets like data centers, industrial and residential buildings. We see it as a good growth stock in the industrials sector. Elsewhere, bank stocks moved higher in midday trading. While Jim doesn’t believe the sector can lead the market, he said Club holding Wells Fargo (WFC) is a buy and that Morgan Stanley (MS) should be bought “aggressively” given its cheap valuation with a solid dividend yield. Shares of Estee Lauder (EL) were making a comeback move Tuesday with shares ticking higher. Still, the stock is not a buy for now. However, we’re convinced that the slowdown in China makes it difficult to sell high end cosmetics there. We’re hoping the government there will unleash a consumer-focused stimulus program to get consumer activity up and boost the economy. (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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