The struggles of luxury chain Saks is another retailer's gain

Every weekday, CNBC Investment Club with Jim Cramer publishes Homestretch, an actionable afternoon update just in time for the final hour of trading on Wall Street. The S&P 500 hit a new record high on Friday as the market closed out the first full trading week of 2026. And the market had a lot to digest. The Nonfarm Payrolls Report showed the economy added 50,000 jobs in December; That's below the Dow Jones estimate of 73,000 and slightly lower than the downwardly revised 56,000 in November. The market shrugged off a brief disappointment after learning the Supreme Court would not rule today on President Donald Trump's Independence Day tariffs. The next viewing day is scheduled for Wednesday. Housing-related stocks like Home Depot caught fire in response to mortgage rates falling to their lowest level since February 2023 after Trump announced that government-backed entities would purchase $200 billion in mortgage-backed securities. The 30-year fixed-rate mortgage fell 22 basis points to 5.99%, according to Mortgage News Daily. One retailer's struggle is another's opportunity. That's how we've long felt about off-price retailer TJX Companies, which has been able to profit from retail closures not only through increased customer traffic but also by acquiring unsold inventory. As we see headlines that luxury chain Saks Global is on the verge of filing for bankruptcy, we can't help but become increasingly positive about TJX's long-term outlook. Saks' products lean toward luxury, but the company also operates nearly 100 affordable locations. If these places close, people will have to shop elsewhere to get a good discount on branded products. This is where TJ Maxx comes into play. TJX shares started the year up about 3 percent, following a 27 percent rise in 2025. The newfound love for Boeing continues to grow. Analysts at Baird raised their price target on Friday from $250 to a Street high of $300 and reiterated that Boeing is one of the top picks in the aerospace industry. Baird's bullish thesis is pretty simple: They see positive momentum in the return of CEO Kelly Ortberg. They see the company's focus on improving execution and accountability translating into "a material improvement in financial performance as deliveries increase across the board," with headwinds related to fixed price easing in Defence, Space and Security. Baird's advice helped Boeing rally nearly 3% on Friday. The stock is currently approaching its 52-week high of $237.38, which it reached last September. Boeing is up a rapid 8% this year, but will surpass that high as monthly production rates for the 737 MAX and 787 gradually improve, leading to increased deliveries and stronger free cash flow generation. An important week is coming when earnings reports, important conferences and important economic data will be announced. Looking at earnings, the big banks will kick off the fourth quarter earnings season. JPMorgan will report on Tuesday, Wells Fargo, Citi and Bank of America on Wednesday, and Goldman Sachs, Morgan Stanley and BlackRock on Thursday. Several regional banks will also report on Friday. Other non-financial companies scheduled to report include Delta, Taiwan Semi and JB Hunt. Meanwhile, JPMorgan will host its annual healthcare conference, where we're likely to hear about new deals and partnerships, trial updates, and earnings pre-announcements. On the data side, there are December Consumer Price Index, October and November Producer Price Index reports and November retail sales. (See here for a complete list of stocks in Jim Cramer's Charitable Trust.) When you subscribe 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 trading alert before buying or selling a stock in his charitable foundation's portfolio. If Jim talked about a stock on CNBC TV, he waits 72 hours after issuing the trading alert before executing the trade. THE ABOVE INVESTMENT CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY, TOGETHER WITH THE DISCLAIMERS. NO CIVIL OBLIGATIONS OR DUTIES EXIST OR SHALL BE RESULTING FROM YOUR RECEIVING ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTMENT CLUB. NO SPECIFIC RESULT OR PROFIT CAN BE GUARANTEED.