Each weekday, the CNBC Investing Club with Jim Cramer publishes the home stretch, a handy evening update, just in time for the final hour of trading on Wall Street. More weakness: There have been a couple of recovery attempts on Wednesday, but shares are still mostly lower in the second session of September after a rough start to the month on Tuesday. Nvidia is faring relatively better after its 9.5% drop on Tuesday, though it was a bit lower in afternoon trading after trading in the green earlier. The stock has been lower in three of the past four sessions through Wednesday. Elsewhere, we initiated a new position in home improvement retailer Home Depot, increasing our exposure to beneficiaries of the Federal Reserve’s rate cut. China in focus: GE Healthcare kicked off back-to-back days of events on Wall Street on Wednesday with a fireside chat with CFO Jay Saccaro at the Wells Fargo Healthcare Conference. We were more focused on what Saccaro had to say about China following the company’s organic growth forecast cut in July that was driven entirely by weakness in the region and a lack of new government stimulus spending. As a reminder, GE Healthcare actually rallied on the disappointing news because some investors believed the new outlook completely “de-risked” the region for the rest of the year. About a month later, it appears there is still limited traction around the China stimulus. “It’s progressing as we anticipated. There is increased interest in placing orders in what we call this pre-tender group. So we’re seeing that progress as we expected,” Saccaro explained. “But all of this has to pay off from pre-tender to tender to approval to order to sale. So it’s a pretty long process. The most important thing is that this is a longer process than the last stimulus.” Saccaro also spent some time discussing what could be a big opportunity for its radiopharmaceutical business due to proposed changes by the Centers for Medicare and Medicaid Services to reimbursements for diagnostic imaging agents. The company plans to talk much more about this at its investor day in December. Overall, Saccaro's comments didn't change our view on the stock. The U.S. business is thriving on the strength of procedure volume and solid hospital profitability, but uncertain developments in China keep us on hold. Management is scheduled to speak Thursday shortly after 1 p.m. ET at the Morgan Stanley Global Healthcare Conference. GE Healthcare stock rose more than 2% on Wednesday and is on track for its highest close since April. Up next: After the closing bell on Wednesday, we'll hear results from AeroVironment, Hewlett Packard Enterprise, Casey's General Stores, and C3.ai. On Thursday's economic data calendar, we'll look at private payroll growth in the monthly ADP employment report and the ISM Services Index. (See the full list of Jim Cramer's Charitable Trust stocks here.) As a subscriber to CNBC's Investment 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 portfolio. If Jim has discussed a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTMENT CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY, ALONG WITH OUR DISCLAIMER. NO FIDUCIARY OBLIGATION OR DUTY EXISTS OR IS CREATED BY VIRTUE OF YOUR RECEPTION OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTMENT CLUB. NO SPECIFIC RESULTS OR EARNINGS ARE GUARANTEED.
Every weekday, CNBC's Investment Club with Jim Cramer publishes Homestretch, a practical afternoon update, just in time for the final hour of trading on Wall Street.
