Every weekday, CNBC Investing Club with Jim Cramer publishes the Homestretch – an actionable afternoon update, just in time for the final hour of trading on Wall Street. Thursday’s Markets: Stocks are taking a breather after Wednesday’s sharp rise, particularly in the Nasdaq Composite and the narrower Magnificent Seven cohort. The yield on the benchmark 10-year Treasury note rose above 4.3% after a look at wholesale inflation for November, known as the producer price index, appeared slightly hotter . Nonetheless, the market still overwhelmingly expects the Federal Reserve to cut interest rates by a quarter of a percentage point at its policy meeting next week, which would bring its target range down to between 4.25%. and 4.5%. What will happen in 2025, however, remains a matter of debate. We wouldn’t be surprised to see a “hawkish taper” next week as the Fed continues its message that it is in no rush to lower interest rates. In other news, it was a historic day at the New York Stock Exchange with President-elect Donald Trump ringing the opening bell. Jim Cramer had the opportunity to interview Trump during the exchange. Here’s a closer look at some of Trump’s comments on the stock market and important trends like artificial intelligence and growing demand for electricity. Bristol Dividend Increase: Bristol Myers Squib announced a 3.3% increase to its quarterly dividend Wednesday evening, bringing its annualized payout to $2.48. With its recent drop to around $56 per share, the stock now trades with a healthy 4.4% dividend yield – and we’re considering our next purchase of the drugmaker, which we like for its innovative treatment for schizophrenia. At around $56 and change, the stock is only about 4% above where it was trading before AbbVie’s rival schizophrenia drug failed to meet its primary endpoint in two mid-term tests. Bristol Myers stock jumped from $54.14 to $59.82 during AbbVie’s Nov. 11 update, and the fact that it gave back more than half of those gains seems like an opportunity. This was a big moment for Bristol Myers, because rather than appearing to have a big lead in the field of schizophrenia, it looks like she might have this space to herself for a while – at least for now. which concerns new approaches to treating the disease. This is a significant and financially lucrative difference. Next up: Two portfolio companies report results after Thursday’s closing bell: Costco and Broadcom. For Costco, the sales figures are already known since the company communicates them every month. That’s why we’ll focus more on dues growth and trends, as well as how the company is investing to keep prices low. For Broadcom, the three things we’re watching are: (1) AI sales, both custom chips and networking, (2) recovery of its traditional semiconductor business, and (3) integration from VMWare. Broadcom shares jumped Wednesday following a media report that Apple was considering partnering with Broadcom on a custom AI chip. But Broadcom shares gave back some of those gains Thursday after Bloomberg reported that Apple plans to replace Broadcom’s Bluetooth and Wi-Fi chips next year with an in-house component. This is somewhat contradictory to Bloomberg’s article last Friday which reported Apple’s plan to replace Qualcomm’s modem system while continuing its relationship. Could this be a situation where Broadcom loses its wireless partnership but gets a big AI win that could be more lucrative over time? Time will tell. (See here for a complete list of Jim Cramer’s Charitable Trust stocks.) As a subscriber to CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after a trade alert is sent before buying or selling a stock in his charity’s portfolio. If Jim talked about a stock on CNBC TV, he waits 72 hours after the trade alert is issued before executing the trade. THE ABOVE INVESTMENT CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY, AS WELL AS OUR DISCLAIMER. NO OBLIGATION OR FIDUCIARY OBLIGATION EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTMENT CLUB. NO SPECIFIC RESULTS OR PROFITS ARE GUARANTEED. Every weekday, CNBC Investing Club with Jim Cramer publishes the Homestretch – an actionable afternoon update, just in time for the final hour of trading on Wall Street.