A beat-and-raise is key for Qnity — plus, CEOs on Trump China trip

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. Markets are moving towards new records again. Smaller swathes of technology trading continue to rise, with Lumentum, Coherent, Corning, Western Digital, Micron, Seagate, Qualcomm and Qnity Electronics all up 5% or more. Energy stocks traded higher alongside oil after President Donald Trump said the ceasefire in Iran was on "life support" following an "incredibly weak" counteroffer to end the war. Consumer-related stocks took a hit, with many travel and leisure, retail and apparel brands, including TJX Companies and Nike, dropping several percentage points. Investors are likely concerned about the potential impact of rising energy prices. With the Consumer Price Index expected to show another significant increase from the previous month on Tuesday, we're starting to hear more discussion from the White House about efforts to increase affordability. Trump told CBS he supports suspending the 18.4 cents per gallon gasoline tax until prices drop again; This is a move that will require congressional approval. According to the Wall Street Journal, the administration also plans to reduce customs duties on beef imports for a limited period of time. We're gaining more clarity on which CEOs and business leaders will accompany Trump on his trip to China. According to CNBC, the list includes executives from Boeing, Apple, Tesla, Meta Platforms, BlackRock, Goldman Sachs, GE Aerospace, Cargill, Illumina, Visa, Micron, Coherent, Blackstone, Citigroup and Mastercard. Not included on this list is Nvidia CEO Jensen Huang, who said on Mad Money last week that "it would be a great honor to represent the United States" if invited. As we wrote last week, the risks are high for Boeing. A successful meeting is critical to secure an order that could total up to 500 aircraft. Analysts at Bank of America, which has a buy rating on the stock, said in a note Monday that the company could be a clear winner from the meeting but cautioned that an order "is not a slam dunk at this point." We believe Boeing's time has come, but the market still has some doubts. Hims & Hers Health and AST SpaceMobile report after the closing bell on Monday. Before the opening bell on Tuesday, Qnity Electronics, which calls itself the leading pure-play provider of integrated solutions for the semiconductor value chain, will produce a report. The company is at the center of AI chip manufacturing, supplying consumables to semiconductor fabs and providing advanced packaging, advanced interconnects and thermal management solutions in chips. There may be weakness in the consumer electronics part of the business, but the company's smartphone push is mainly seen in premium devices that are expected to be more durable. Considering shares are up nearly 90% year to date, we'll need to see a rise and rise for the rally to continue. Other companies reporting Tuesday include ON Holding, Venture Global and Under Armor. As mentioned before, the April CPI report is likely to see a large increase compared to March prices due to the impact of high energy costs. According to FactSet, economists expect the index to increase by 0.59% compared to March and 3.7% in the last 12 months. The index, excluding food and energy, is expected to increase by 2.7% in the last 12 months. (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 GUARANTEE IS MADE.