loading
loading
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. Wall Street's rally Friday looks good enough to keep the S & P 500 and Nasdaq positive for the week. Tech stocks bounced back from Thursday's sell-off after a Bloomberg report cleared up confusion about OpenAI's annualized revenue expectations. Tame bond yields and oil prices also supported the stock rally. Our best performers on Friday were Palo Alto Networks , up more than 4.5%, and CrowdStrike , up more than 3.5%. For the week, two of our non-AI names topped the list: Off-price retailer TJX and Cardinal Health each posted weekly gains of more than 4%. The rout in telecom stocks is a market story . It's because of SpaceX's deal to buy spectrum to expand the mobile capabilities of its Starlink service. T-Mobile suffered the biggest decline of carrier stocks, falling 13%, on the promise of increased competition. Verizon and AT & T fell roughly 10% each. Elon Musk's SpaceX said the $8 billion spectrum purchase from investment firm Grain Management will allow Starlink to combine its "satellite-to-mobile constellation in space with an advanced terrestrial deployment that can seamlessly connect devices everywhere." SpaceX got lots of love from analysts this week in separate notes from Goldman Sachs and Barclays. Earnings season kicks off next week . Club names Wells Fargo , Goldman Sachs , and Johnson & Johnson each report their quarterly results before Tuesday's opening bell. Bank of New York , also a portfolio holding, reports earnings Thursday morning. On the economic docket, data on September consumer prices and producer prices are out on Wednesday and Thursday, respectively. Both could sway expectations on what the Federal Reserve might do with interest rates at its meeting later this month. After raising rates for the first time in three years in September, central bankers are expected to hold steady this time around. According to the CME FedWatch tool, the market does still favor a December rate hike. (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.
document fetched 2026-10-10 02:49 · canonical https://cnbc.com/investingclub/2026/10/09/whats-behind-the-recovery-rally-in-tech-stocks-plus-musks-good-week.html