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. Market moves : It’s been a volatile day on Wall Street. The S & P 500 wiped out earlier losses of roughly 1.5% on Tuesday and turned modestly higher in late afternoon trading. Initial worries about renewed U.S.-China trade tensions sank the market after Monday’s strong snap-back rally from Friday’s tariff-driven rout. The Nasdaq on Tuesday remained stubbornly in the red as tech struggled. It was the only one of the S & P 500’s 11 sector indexes that was lower on the session. The market does not seem to be paying much attention to Federal Reserve Chairman Jerome Powell ‘s remarks about the Fed’s balance sheet. As CNBC economic reporter Jeff Cox wrote , “Powell said the central bank is nearing a point where it will stop reducing the size of its bond holdings, but gave no long-run indication of where interest rates are heading.” A halt in so-called “quantitative tightening,” or letting fixed income assets roll off, would generally be viewed as easing monetary policy. But it’s the next rate move and path forward for borrowing costs that matter most to the market, which expects two more cuts by the end of the year. Chatbot shopping : Walmart on Tuesday announced a new partnership with OpenAI. It allows the retailer’s customers and Sam’s Club members to shop and buy directly on ChatGPT using Instant Checkout. The Instant Checkout feature, which was launched on the chatbot late last month, is also being used by Etsy and retailers that use the Shopify e-commerce platform. Walmart said that ChatGPT will learn and predict customers’ shopping needs aimed at creating a more convenient experience — a move away from the traditional dynamic of a search bar returning a long list of items, which has been familiarized by Amazon . “This is a direct attack on Amazon,” Jim Cramer said Tuesday. Amazon does have its own AI shopping assistant called Rufus. Shares of Walmart rose 4% on the news. Amazon stock fell 1% — though to be fair, it has been a tough day overall for tech stocks. The Walmart partnership is among a series of megadeals that OpenAI announced over the past few weeks, including ones with Club names Nvidia and Broadcom . Boeing trifecta : There are three major Boeing headlines on Tuesday. First, the Club name said it was awarded $2.7 billion in multiyear contracts to make a key guidance component for the Patriot interceptor missiles. Boeing is working with prime contractor Lockheed Martin and the U.S. military. Second, Boeing said it delivered 160 commercial airplanes in the third quarter, a roughly 38% increase from a year ago. Year to date, deliveries totaled 440, up more than 50%. Third, the European Commission approved Boeing’s $4.7 billion purchase of troubled aircraft parts supplier Spirit Aerosystems . Boeing must sell all of the parts of Spirit that supply European aircraft consortium Airbus. The deal, which would reunite Boeing and Spirit, is awaiting U.S. approval. Our last Boeing buy was on Friday’s weakness as we aim to bulk up our position. Up next : Following Tuesday’s bank earnings, Bank of America and Morgan Stanley join the party before Wednesday’s open. Club name Abbott Labs also reports. United Airlines is the big quarterly report after Wednesday’s close. (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.
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