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. More weakness: There’s been a pair attempts at a rally Wednesday, but stocks are still mostly lower within the second session of September after a rough begin to the month Tuesday. Nvidia is acting a comparatively higher after its 9.5% plunge Tuesday, though it was somewhat lower in afternoon trading after trading within the green earlier. The stock has been lower in three of the past 4 sessions entering Wednesday. Elsewhere, we initiated a recent position in home improvement retailer Home Depot , increasing our exposure to Federal Reserve rate cut beneficiaries. China in focus: GE Healthcare kicked off back-to-back days of Wall Street events Wednesday with a fireplace chat with CFO Jay Saccaro on the Wells Fargo Healthcare Conference. We were most focused on what Saccaro needed to say about China following the corporate’s organic growth forecast cut in July that was entirely driven by weakness in region and a scarcity of recent government stimulus spending. As a reminder, GE Healthcare actually rallied on the disappointing news because some investors believed the brand new outlook completely “derisked” the region for the remainder of the 12 months. About one month later, it looks like there continues to be limited traction around China stimulus. “It’s sort of progressing as we sort of anticipated. There’s increased interest in putting orders in what we call this pre-tender bucket. So we’re seeing that progress sort of as we’d expect,” Saccaro explained. “But all this has to pay out from pre-tender to tender to approval to order to sale. And so it’s a reasonably prolonged process. The largest thing is this can be a longer process than the last stimulus.” Saccaro also spent a while discussing what may very well be a giant opportunity for its radiopharmaceutical business resulting from the Centers for Medicare and Medicaid Services’ proposed changes to imaging agent reimbursements. The corporate plans to speak loads more about this at its investor day in December. Overall, Saccaro’s remarks didn’t change our considering on the stock. The U.S. business is flourishing because of procedure volume strength and robust hospital profitability, but uncertain developments in China keeps us at a hold. Management is scheduled to speak Thursday shortly after 1 p.m. ET on the Morgan Stanley Global Healthcare Conference. Shares of GE Healthcare were up greater than 2% Wednesday and on the right track for his or her highest close since April. Up next: After the closing bell Wednesday, we’ll hear earnings from AeroVironment , Hewlett Packard Enterprise , Casey’s General Stores , and C3.ai . On the economic data calendar Thursday, we’ll get a have a look at private payroll growth in ADP’s employment monthly report and the ISM Services Index. (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’ll 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 a couple of 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.
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.
