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. (We’re no longer recording the audio, so we can get this new written feature to members as quickly as possible.) Markets stabilizing: Stocks are stabilizing Wednesday after a couple down sessions in a row. Helping equities find some support was a less volatile Treasury market, where yields have spiked in recent days and rattled stock investors. The 10-year Treasury yield touched a new high for the year earlier Wednesday, but it came off its higher levels after the Institute for Supply Management’s services PMI for March came in softer than expected, especially on prices paid, which is viewed as a leading indicator of inflation. It represents the latest data point in an increasingly complex inflation picture. Disney wins: Disney was successful at fending off Trian Partners in Nelson Peltz’s quest for two board seats at the company. It wasn’t a complete surprise because of media reporting in recent days, but the results became official shortly after 1 p.m. ET. The stock fell roughly $1.30 in immediate reaction to the news. “A Peltz loss is worrisome to me because I think the stock has moved up a great deal, too fast for me,” Jim Cramer said Wednesday. “We have sold some and I would like to sell more, but we are restricted.” The Club, which backed Peltz in the proxy fight, sold 265 shares of Disney on Monday. Quick hits: There’s some upward movement in supercomputing and artificial intelligence-related stocks Wednesday, and Jim said he thinks the trading “can be traced to canny investor Steve Cohen this morning on ‘Squawk Box.'” “He said that the rally is not a bubble and he likes the companies. They have had a few days down so traders have come in. I see no new information,” Jim explained. We’re continuing to stick by Apple despite the iPhone maker finding itself in the crosshairs of…
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