Nvidia swipes the crown from Microsoft — plus, the fuel for Best Buy's latest move higher

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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. Nvidia takes the lead: Stocks are mostly higher Tuesday, but the action has been more muted compared to Monday's rally. There was a well-received auction of $13 billion in 20-year Treasury notes that kept bond yields down. Nvidia is rallying to another record high, pushing the leading artificial intelligence chipmaker's market capitalization above Microsoft's level to become the most valuable public company in the world. Both tech giants are worth more than $3.3 trillion as of Tuesday afternoon. However, the rest of the mega caps are pulling back, with Club holdings Apple , Amazon , Alphabet , Meta Platforms and Microsoft all lower. Is it time to add fellow portfolio name Broadcom to this anointed list? Sector leaders: After powering the market higher last week, the technology sector is the outperformer again Tuesday day. But overall there's slightly more of a balance in the session, albeit not quite as broad as Monday. The big banks are a bright spot; Club holding Wells Fargo is up more than 1%. Energy is another bright spot as U.S. oil benchmark WTI crude moves above $81 per barrel. Industrials fared better, especially those tied to power demands like Dover and Eaton — both Club holdings — but embattled plane maker Boeing remained a drag. We added to our Dover position earlier in Tuesday's session, using part of the proceeds from our Broadcom sale into its recent parabolic move higher. As much as Broadcom's long-term story is intact, we always look to take gains in parabolic moves because those rallies tend to be unsustainable. Struggling sectors: Communication services pulled back about 1%, while consumer discretionary was unsurprisingly weaker after the softer-than-expected May retail sales report. However, we found some solace in the sales report due to its electronics and appliance store figures. If consumers are starting to embrace new innovations within consumer electronics and showing signs of a willingness to upgrade their tech, it bodes well for Best Buy . The Club holding continued its recent run higher Tuesday, adding more than 2% on its way to another new 52-week high on the launch day of Microsoft's new AI-enabled PCs. That is a key part to our thesis in Best Buy, though, in an upgrade Monday, analysts at UBS wisely highlighted additional growth levers for the company . Over the past month, Best Buy shares are up more than 27%. Up next: There's not a whole lot expected to happen on Wall Street over the next 24 hours. Following Lennar's report Monday night, we'll get earnings from fellow homebuilder KB Home after Tuesday's close. U.S. markets are closed Wednesday in observance of the Juneteenth holiday. When we're back Thursday, we'll see earnings from the consulting company Accenture , grocery chain Kroger and Olive Garden parent Darden Restaurants . (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.