As AI-related stocks dive, the market's winners have one thing in common

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. Stocks are falling hard on Friday , likely putting an end to the S & P 500 's 9-week win streak. After driving the market's gains for the past several months, technology and AI infrastructure stocks sold off sharply, sending the Nasdaq down about 3% and marking its worst day since October. The AI trade started to wobble on Thursday after Broadcom failed to raise its 2026 and 2027 AI semiconductor revenue outlook. (We still think the company is being conservative.) The S & P 500 declined by about 2% on Friday, as weakness in the tech sector (which accounts for almost 40% of the index excluding Amazon , Alphabet , Meta Platforms , and Tesla ) was partially offset by solid gains in staples, health care, real estate, and utilities. One common theme among the market's winners: their sectors are least tied to the broader economy. It is a little counterintuitive because interest rates surged following the stronger-than-expected May jobs report . Perhaps it was monetary policy expectations that triggered the rotation, because with the labor market in good shape, traders now see higher odds of a rate hike by December than simply leaving the range unchanged at 3.5% to 3.75%. …