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Every weekday, the CNBC Investing Club releases the Homestretch with Jim Cramer – an evening update action, just in time for the final hour of trading on Wall Street. Market moves: Wall Street was having another wet session. A lower close for the S&P 500 would mark the fourth of the last five sessions. The index was poised to snap a three-week winning streak. Stocks are under pressure this week as the 10-year Treasury yield rose from 4.15% to 4.4%. Recently, the S&P 500 has gone through bad range, meaning more stocks are closing lower than higher. Thursday was a good example, with 326 stocks in the index down and only 174 up. Analysts at Deutsche Bank noted that Thursday was the ninth session of lower than higher stocks, the longest such streak since 2001. It’s no surprise that the S&P 500 Short Range Oscillator has steadily declined after working through its recent overbought situation. The oscillator showed that the market was technically overbought from November 29 to December 6, which was the same day that the S&P 500 made its last high close. However, it still takes a little more work to get overselling. After Thursday’s close, the Oscillator broke below 2%, which means it’s not there yet, as the minus 4% threshold is. The oscillator measures buying and selling pressure in the market, and we use it to analyze stocks in overbought markets for relief and for oversold markets. Every time we mention the Oscillator, we are inundated with requests from Club members: “How can we join?” Well, we went straight to the source, our partners at MarketEdge, the data provider that publishes the Oscillator. We are delighted that Club members can get an exclusive discount on this helpful tool. Click here Dividend Aristocrat: Club stock Abbott Laboratories, a diversified health care company, increased its quarterly dividend for its 53rd consecutive year. The 7.3% increase brought the quarterly payout to 59 cents per share. The dividend yield moved above 2% at current stock levels. We don’t think of Abbott as a dividend play, but his status as a so-called Dividend Aristocrat should not be overlooked. To join this elite club, a company must be in the S&P 500 and increase its dividend for at least 25 consecutive years. It’s a hallmark of quality that we like to return during periods of higher market volatility. Next week: The year may be drawing to a close, but there are still some big-name companies set to report quarterly earnings next week. Some of the notable exits on Tuesday include General Mills, Micron Technology and Lennar. Thursday is a big day with Accenture, Cintas, Darden, Nike and FedEx. It’s also a big week for data and politics. On the data side, we get the S&P Global PMI, retail sales, the third quarter GDP reading and the PCE price index. As of Wednesday afternoon, the Fed is likely to cut interest rates by 25 basis points at the end of its two-day December meeting. Based on CME FedWatch probabilities, the market expects the Fed to cut rates and then hold them until at least March. The Fed began its easing cycle in September with a modest 50 basis points and a 25-basis-point cut in November. (See a full list of Jim Cramer’s Charitable Trust stocks here.) As a subscriber to the CNBC Investing Club with Jim Cramer, you’ll receive a trade alert before Jim trades. Jim will wait 45 minutes after sending a trade alert before buying or selling a share in his charitable trust portfolio. If Jim has talked about a stock on CNBC TV, he will wait 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTMENT CLUB INFORMATION IS PURSUANT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY, SUBJECT TO OUR DISCLAIMER. NO FIDUCIARY OBLIGATION OR OBLIGATION SHALL BE CREATED, OR CREATED, FOR ANY INFORMATION ENTERED INTO WITH THE INVESTMENT CLUB. NO SPECIFIC RESULTS OR PROFITS ARE GUARANTEED.
Every weekday, the CNBC Investing Club releases the Homestretch with Jim Cramer – an evening update action, just in time for the final hour of trading on Wall Street.
