Listen: Don't sell on Fed minutes plus what's working and what's not working in the market

Published Wed, Jan 4 20232:54 PM ESTUpdated Wed, Jan 4 20233:10 PM EST

Here are some highlights from "The Homestretch," our new audio feature with Jim Cramer and portfolio director Jeff Marks to get Club members ready for the final hour of trading on Wall Street. Fed minutes Jim Cramer: "While the number indicates the market is getting hit, the Fed minutes are just saying what we thought. So I don't want to sell stocks on this. I want to buy." What was working JC: "[Before the minutes], if you took a charge like Marc Benioff [and Salesforce ] did today, it's being well received. Tech stocks, which have been just the millstone around the market come back. ... If you take charges it's good. Jeff Marks: "Top performing stocks in the S & P right now, it's Carnival , Paramount , Bath & Body Works , Micron . When I look at this list I think it's way too early to draw conclusions and say these are the winners of the year. These stocks were so poor last year, maybe it's the end of tax loss [selling]." What's not working JM: Energy is lagging. We did add to Pioneer , our position this afternoon. And in the story we put out, even at a floor of $60 per barrel [for WTI crude], Pioneer would pay a nice $10 dividend annually. That's a 4.5% dividend yield. That's about double what the S & P average is." Club winners JC: "[Top 5 movers], Bausch Health ... they don't return calls. JM: "Maybe that's part of these down-and-out stocks rallying to start the year." JM: "You have Wynn Resorts . That's China reopening trade is so strong right now. Maybe Qualcomm doing well too." JC: "Qualcomm had a presentation yesterday about the car at CES. And I was totally unimpressed. Totally unimpressed." JM: "We have Disney and Coterra that rounds out the top 5." JC: "The one I would still buy is Disney." Club losers JC: " Microsoft , analyst downgrade? ... does Microsoft have too many people? I wouldn't shock me. It's bloated." " Honeywell , analyst downgrades it. Doesn't he understand ... it's everything you want in a stock. Goes from the buy list to a sell. What is he thinking?" (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.