Stocks took another hit from the Federal Reserve. In addition, Starbucks has also quietly made a comeback

Every weekday, CNBC Investment Club with Jim Cramer publishes Homestretch—an actionable afternoon update just in time for the final hour of trading on Wall Street. (We’re no longer recording audio so we can get this new written feature to members as soon as possible.) Fed Beats Stocks: Markets slid further into negative territory Wednesday afternoon after minutes from the Fed’s latest meeting boosted inflation worry. But keep in mind that the Fed minutes are for meetings held from April 30 to May 1, so they did not take into account the lower-than-expected April CPI that was released on May 15. , discount retailer TJX saw solid quarterly results from the owner of TJ Maxx, Marshalls and HomeGoods. Read our profit analysis and the reasoning behind our increased price target for the club. The waiting game: Volatility could change after Wednesday’s close as investors react to Nvidia’s first-quarter fiscal 2025 earnings and outlook. About a year ago, club name Nvidia gave one of its most impressive quarterly revenue forecasts ever – guiding for about $11 billion in revenue, compared with expectations of $7.15 billion. The news caused Nvidia’s stock price to surge 24% in a single day, sparking an artificial intelligence/data center construction theme that has so far shown no signs of slowing down. Industry Updates: Healthcare was the only industry to maintain modest gains, led by a surge in Moderna shares. Low technology content. However, solar stocks such as First Solar and Enphase Energy, which belong to the information technology sector, are soaring. Nextracker, a smaller name not in the S&P 500, also posted gains on Wednesday. We’ve been keeping an eye on Nextracker as part of our Bullpen watchlist following last week’s strong results. We’ve seen some commodity prices fall, leading to lower energy and materials prices. Copper prices retreated after hitting a record high on Tuesday. Oil prices also fell for a third consecutive session. A Quiet Comeback: We’re watching Starbucks and the stock’s curious resurgence over the past three weeks. Shares of the coffee giant fell nearly 16% in early May after a dismal quarter and a sharp cut to full-year guidance, but the stock has quietly recouped much of its losses without any real news. If the stock closed above $80.50 per share, it would represent a gain of approximately 7% over the past four trading days. The recent moves in the club’s stock have us wondering if there are big buyers lurking out there. Next up: Obviously, Nvidia is the main story this week, releasing a report after the close on Wednesday. Other companies reporting include cloud name Snowflake; Elf Beauty; Vans, North Face and Timberland owner VF Corp and automation software maker Synopsys. Before the open on Thursday, Ralph Lauren; medical device maker Medtronic; and BJ’s Wholesale Club were among those reporting. (See here for a complete list of stocks in the Jim Cramer Charitable Trust.) As a subscriber to Jim Cramer’s CNBC Investing Club, you will receive trade alerts before Jim makes his trades. Jim waits 45 minutes after sending a trade alert before buying or selling stocks in his charitable trust portfolio. If Jim talked about a stock on CNBC TV, he would wait 72 hours after issuing a trade alert before executing the trade. The investment club information above is subject to our Terms and Conditions and Privacy Policy and our Disclaimer. No fiduciary duty or obligation is created or created by any information you receive in connection with the Investment Club. No specific results or profits are guaranteed.

Every weekday, CNBC Investment Club with Jim Cramer publishes Homestretch—an actionable afternoon update just in time for the final hour of trading on Wall Street. (We are no longer recording audio so we can make this new written feature available to members as soon as possible.)

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