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. Stocks climbed Wednesday on optimism that tensions between the United States and Iran will continue to ease. The U.S. reportedly offered Tehran a 15-point peace plan, but it’s facing some resistance on the Iranian side. Oil dropped a few dollars per barrel — global benchmark Brent crude was trading around $102 — while bond yields fell, too. Elsewhere in geopolitics, the White House said President Donald Trump plans to meet Chinese President Xi Jinping in China in May. When the two parties meet, we expect a sizable order of Boeing jets to finally be announced. It would be Club name Boeing’s first major order from China in almost a decade, Reuters reported earlier this month . Every sector but energy traded higher on Wednesday, with materials, consumer discretionary, and industrials leading the way. Health care also outperformed thanks to a strong move in drug stocks like Club name Bristol Myers Squibb , which rallied over 2.5%. In technology, the red-hot memory chip stocks dropped after Google announced a new compression technique that its researchers claim can reduce the memory costs for large language models and vector search engines. For Google, this innovation could be an incremental positive for the company if it allows them to save on compute costs. Honeywell shares rose more than 2% after it announced it signed what it called a “groundbreaking supplier framework” deal with the U.S. Department of Defense. Honeywell is making a $500 million multiyear investment to upgrade its production capacity of critical defense technologies, which include navigation systems, missile actuators, and electronic warfare solutions. The agreement should provide a nice boost to Honeywell Aerospace’s defense business, which will become an even greater focus to investors after it’s spun off into a standalone company in the third quarter. We upgraded our Honeywell rating back to a 1 last Friday, viewing the war-driven market sell-off as an opportunity to buy a quality stock that’s pulled back and has a value-creating catalyst later this year. Up next, we’ll hear from Jefferies Financial after the closing bell on Wednesday. We’ll be looking at Jefferies’ investment banking results as a readthrough into Club name Goldman Sachs . There are no major earning reports on Thursday before the opening bell. On the data side, the only notable report is weekly jobless claims. (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.
Why Trump’s meeting with Xi matters for Boeing, and Honeywell inks a deal with the Pentagon
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