S&P 500 aims to extend win streak — plus, a CFO switch at one of our key names

CNBC Finance

3 min read

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch â an actionable afternoon update, just in time for the last hour of trading on Wall Street. Stocks opened the week on a positive note . The S & P 500 was higher for most of the session â outside of a brief pullback shortly after 1 p.m. ET as President Donald Trump held a news conference to highlight a successful rescue mission in Iran. The president didn't hold back the harsh rhetoric against Iran ahead of his Tuesday 8 p.m. ET deadline for opening the Strait of Hormuz. Still, a positive day for the S & P 500 by the close would mark its fourth straight. The stock gains came despite another positive day for West Texas Intermediate crude, which hit session-highs during Trump's news conference. WTI currently sits just below $114 per barrel. It was at $67 before the start of the war in the Middle East in late February. Despite the continued rally in oil, bond yields were relatively unchanged. Broadcom made a C-Suite change . Kirsten Spears will retire as chief financial officer and be succeeded by Alphabet executive Amie Thuener in June. In an announcement late last week, Broadcom said Spears will remain with the custom chip designer as an advisor for nine months following the transition. Thuener joins Broadcom by way of Alphabet, one of its closest customers, where she has served as a vice president, corporate controller, and chief accounting officer since 2018. We see no reason to expect anything but a smooth transition, given Spears' advisory position and Thuener's prior experience.Â Separately, we thought last week's strategic partnership between Nvidia and Marvell Technology was a move against Broadcom. We're a little less positive on Broadcom than we were at this time one week ago. There are no major earnings Monday evening or Tuesday morning. On the data side, durable goods orders and the New York Federal Reserve's inflation expectations are out before the bell. (See here for a full list of the stocks in Jim Cramer's Charitable Trust, including AVGO, NVDA, GOOGL) 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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S&P 500 aims to extend win streak — plus, a CFO switch at one of our key names

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