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LivestreamMenuEvery 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 were mixed on Tuesday as the S & P 500 dipped following a strong rally on Monday, fueled by optimism on a U.S.-Iran agreement. Technology was a notable laggard in Tuesday’s session, pulling back after a 3% Nasdaq rally on Monday. The weakness in tech came as SpaceX continued its post-IPO gains, passing Amazon and, briefly, Microsoft , in total market capitalization. Perhaps the softness in tech is a sign that there is only so much capital to go around, with investors selling some of their other tech holdings and reallocating money into SpaceX. Beyond tech, there was a nice broad rally happening as oil and interest rates retreated. U.S. oil benchmark WTI crude has fallen below $76 per barrel , trading at its lowest level since the early days of the Middle East conflict. The financials sector was at the top of the market, followed by industrials and utilities. Financials and industrials are both classic economically sensitive areas. Eli Lilly announced another acquisition , buying 4E Therapeutics for an undisclosed amount. Privately held 4E is developing a pipeline of oral medications designed to treat chronic pain. The company’s lead compound is the first MNK inhibitor developed to treat pain and advance to human clinical trials (cancer has been another area of focus for MNK inhibitors). 4E’s compound has demonstrated a favorable safety profile in an early-stage phase 1 study. While this deal is small in nature and a lot has to go right to see these medications advance to late-stage trials, it underscores Eli Lilly ‘s broader strategy of focusing on science that addresses unmet needs, such as sleep disorders and vaccines for certain conditions. This also isn’t Lilly’s first acquisition in the pain space. It announced a deal to buy SiteOne Therapeutics in May 2025 for $1 billion. SiteOne’s main asset is in the same class of drugs as Vertex Pharmaceuticals’ Journavx. The pain market is a potentially lucrative one as care providers seek to prescribe non-opioid, non-addictive treatments. That said, it is a difficult therapeutic area, and Lilly removed one pain drug from its pipeline last year, according to industry publication Biopharma Dive . The upshot for investors is that the obesity and diabetes markets will continue to account for the vast majority of Lilly’s revenue. Thanks to its success with GLP-1s, Lilly has the cash position to acquire numerous biotech startups and take more shots on goal in pursuit of its next blockbuster. The post-earnings sell-off in Broadcom on conservative AI guidance earlier this month was quite disappointing. However, one thing we’ve come to expect from the company after sharp declines is a willingness to instill confidence through accelerated share repurchases and insider buying. Their willingness to step in when it thinks the sellers are wrong is why we’ve been keeping a close watch on it. Who could forget when Broadcom CEO Hock Tan basically called the bottom last year when the company announced a $10 billion share repurchase authorization on April 7, 2025? That was just five days after President Donald Trump sent the market spiraling with the unveiling of his “Liberation Day” tariffs. Broadcom shares have doubled since then. While we are still waiting for the company to step up share repurchases with the stock down $100 from its June 2 high, we were pleased to see a filing made public on Monday show the board’s chairman, Harry You , purchased 1,000 shares at $373.57 last Thursday. Insider buys of less than $1 million aren’t large enough to change our thinking in a stock, but this is a start, and we hope to see more activity in the future. There are no major earnings after the closing bell. Before Wednesday’s open, Jabil, CarMax, and Progressive are set to report their quarterly results. On the economic side of things, we get retail sales in the morning ahead of the afternoon conclusion of the Federal Reserve’s June meeting. While markets do not expect the newly Kevin Warsh-led Fed to change interest rates, investors will be parsing every word for clues about the future path of monetary policy under the new regime. The recent decline in oil prices has made it easier for the Fed to justify keeping rates unchanged the rest of the year. (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.Read More
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