Every weekday, Jim Cramer’s CNBC Investment Club releases the Homestretch, a practical afternoon update to coincide with the last hour of trading on Wall Street. The S&P 500 rose in volatile trading Friday. The news of the day was that the Supreme Court struck down President Donald Trump’s emergency tariffs in a 6-3 decision. In response, President Trump said in the afternoon that he would impose a 10% tariff worldwide under Section 122. These new tariffs can only last for 150 days unless extended by further action by Congress. President Trump pointed out that the Supreme Court’s decision does not affect tariff sections 232 and 301. The president also expressed frustration that Friday’s ruling did not address whether customs revenue already collected should be returned. President Trump has indicated that further litigation may be needed to resolve the issue. NKE 1D Mountain Nike 1 Day When news of the high court case first broke around 10 a.m. ET, stocks of companies whose profits have been hit by the tariffs soared. For example, Nike is one of the portfolio stocks most adversely affected by tariffs. The company faces a $1.5 billion headwind from tariffs this fiscal year. As expected, the shoe and sports apparel maker’s stock price rose to more than $68 at one point shortly after the decision was made. But markets quickly realized that Trump would find other ways to impose tariffs on imports and restrict trade. He did just that and explained why Nike turned around and got all of its profits back. Cybersecurity stocks including CrowdStrike and Palo Alto Networks fell after Anthropic announced the availability of Claude Code Security on Friday. The new tool can scan codebases for security vulnerabilities and recommend software patches for human review, the AI research firm said. As a shareholder in CrowdStrike and Palo Alto Networks and a firm believer that the proliferation of AI and digital agents will increase the need for cybersecurity vendors, the reaction to this press release is an unfortunate example of how sensitive stocks can be to announcements when the market believes they are being targeted for AI disruption. Club revenue will increase next week, with Home Depot, TJX, Salesforce, Nvidia, and Qnity all reporting quarterly results. Nvidia is a major company that the market has been waiting for. On Friday, the company booked some profit on its Kuniti position as the DuPont spinoff’s stock price has soared recently. Next week will also see major economic reports on durable goods, consumer confidence, unemployment claims and the producer price index. (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 his charitable trust’s portfolio. If Jim talks about a stock on CNBC TV, he will issue a trade alert and then wait 72 hours before executing the trade. The above investment club information is subject to our Terms of Use and Privacy Policy, along with 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.
