Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Market update : Stocks slipped following the S & P 500 's record high close on Monday. There was no major reaction to Federal Reserve Chair Jerome Powell's speech in Rhode Island, where he acknowledged how the Fed is balancing upside risks to inflation with downside risks to employment. His comments didn't significantly alter the market's expectations for rate cuts this year, with investors still anticipating a 25-basis-point cut at both the October and December meetings. Liquid cooling: AI data center power stocks fell Tuesday after Microsoft announced a breakthrough in chip-cooling technology. The company said it has developed a new method to cool AI chips through a system that removes heat up to three times more effectively than cold plates, also known as direct liquid cooling. Microsoft 's new system utilizes an in-chip microfluidics cooling system, which the company says "brings liquid coolant directly inside the silicon." The latest technology creates grooves on the back of silicon chips, allowing cooling liquid to flow directly onto the chip. Stocks like GE Vernova , Eaton , and Vertiv sold off immediately after the announcement but gradually pared their losses. These were knee-jerk reactions to an announcement that probably doesn't change the status quo or backlogs for the foreseeable future, and who knows if this microfluidics technology can be done at scale. Lilly manufacturing expansion : Eli Lilly said it is building a new $6.5 billion manufacturing facility in Houston, Texas. This new facility will focus on manufacturing the company's small molecule medicines, including obesity drugs such as the oral GLP-1 orforglipron. In a press release, CEO David Ricks said the new site will give the company the ability to manufacture orforglipon at scale and "help fulfill the medicine's potential as a metabolic health treatment for tens of millions of people worldwide who prefer the ease of a pill that can be taken without food and water restrictions." Eli Lilly plans to file for approval for the drug by the end of the year, with a launch expected for early next year. This is the second major U.S. manufacturing announcement Lilly has made in the past two weeks. Last Wednesday, it announced it is building a new $5 billion facility in Virginia. Up next: Micron reports after the closing bell, and the results and commentary from this memory chip manufacturer will provide a read-through to important technology end markets like data center, PCs, and smartphones. Cintas and Thor Industries report before the opening on Wednesday. New data includes weekly mortgage applications, new home sales, and building permits. (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.
