Each week, Jim Cramer's CNBC Investing Club releases a Homestretch audio feature to coincide with the last hour of trading on Wall Street. Here is today's edition. Stocks are rising and the S&P 500 is trying to break a three-day losing streak, but the Nasdaq has some work to do if it wants to end its four-day losing streak. The Magnificent 7 Index is flat to slightly down today. On Tuesday, we cut tech stocks across the board to raise cash. Last year's mega-cap stocks skyrocketed so much that I had to take profits at some point. But there will come a time when it will be attractive to buy more again. And if that happens, Jim said he'll probably buy Amazon. Jim explained that Amazon has pricing power through Prime Video, and if members want to avoid ads, they can pay a little more for ad-free slots. This presents an opportunity for AdStream to grow its profits from Amazon, not to mention the recovery from AWS and continued cost efficiencies that management is prioritizing. AMZN stock fell 2% on Thursday to about $145 per share, but there are no special factors behind the decline. Meanwhile, TJX stock rose 1% on Thursday after Bernstein recommended it as a top idea for two years. We like that call and know you can continue to trust this off-price retailer. TJX had a great year as consumers were cautious with their spending but also looking for value. This trend is likely to continue into 2024, as Americans' budgets remain under pressure. Elsewhere, the energy sector has been a laggard since EOG Resources said it did not expect significant energy growth. But Jim isn't in that camp. He believes oil prices have bottomed out and will “buy more” Cotera stock if prices rise (see here for a complete list of Jim Cramer Charitable Trust stocks). As a subscriber to Jim Cramer's CNBC Investment Club, you will: Receive trade alerts before Jim makes a trade. After Jim sends a trade alert, he waits 45 minutes before buying or selling stocks in a charitable trust's portfolio. If Jim talks about a stock on his CNBC TV, he will wait 72 hours before executing the trade after issuing a trade alert. The above investment club information is subject to our Terms of Use and Privacy Policy, as well as our disclaimer. No fiduciary duties or obligations exist or arise from your receipt of information provided in connection with the Investment Club. No specific results or benefits are guaranteed.
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