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S&P 500 Set for Weekly Loss Despite Friday Rally

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Story summary
  • Jim Cramer’s CNBC Investing Club released the Homestretch update noting a Friday rally.
  • The S&P 500 is headed for a weekly loss despite the rally.
  • The S&P Short-Range Oscillator entered oversold territory Thursday, first since March end.
  • CME FedWatch shows an 86.5% chance of a 25-bp hike Wednesday, up from 72% Thursday.
  • KeyBanc initiated Linde overweight with a $542 price target, citing margin gains.