'Magnificent Seven' stocks are a bright spot Tuesday as the market bounces off its lows

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. Markets: The S & P 500 bounced off its lows of the morning and edged into positive territory Tuesday afternoon. The market is digesting a rising 10-year Treasury yield and the latest batch of corporate earnings. For the most part, the results continue to be better than expected but nevertheless are being met with disappointing reactions. Of the companies we closely follow, only steelmaker Nucor gave weak guidance. 3M and RTX beat and raised their full-year guidance, but both stocks gave up their early gains. GE Aerospace and Club holding Danaher met expectations, but both pulled back after the full-year outlooked was reaffirmed. We're not too concerned about either. GE Aerospace and Danaher's management teams are cut from the same cloth — current GE CEO Larry Culp ran Danaher from 2001 through 2014 — and have a history of being conservative with their outlooks. Mag 7: A bright spot in Tuesday's uneven tape is the "Magnificent Seven" stocks. Apple may be down off Verizon' s earnings and Nvidia also is a little lower, but both Club stocks closed at new highs Monday. The strength Tuesday is coming from Club holdings Microsoft , Amazon , Alphabet and Meta Platforms . Microsoft is leading the way, up more than 2%, followed by Instagram owner Meta, which added over 1%. Amazon and Google parent Alphabet rose around 0.8% and 0.6%, respectively. Interest rates may be why the market is reaching for these companies Tuesday. When rates fall, the market tends to broaden into companies that do better when the cost of money is cheaper. And when rates rise, like the 10-year yield has been lately, money goes back into these secular growth stories with massive balance sheets that aren't impacted by elevated borrowing costs. The opposite could play out Wednesday, but this may help explain what we're seeing Tuesday. Up next: Data storage firm Seagate Technology , chipmaker Texas Instruments and oilfield services provider Baker Hughes are set to report after the bell Tuesday. Solar company Enphase Energy also reports, which should give us a sense of what has happened to that renewable industry over the past few months. Wednesday is another heavy day of earnings. Some of other notable companies reporting before the opening bell are Boeing , data center play Vertiv , Coca-Cola, life sciences firm Thermo Fisher , energy equipment maker GE Vernova , and heart device maker Boston Scientific . (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.

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.