Another late-day stock market selloff. Here’s what we think is going on

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. (We’re no longer recording audio so we can make this new written feature available to members as soon as possible.) Trying to bounce back: After a nice rally early in the session, the S&P 500 is struggling to hold on to its gains. (The index had fallen steadily after this story was first published.) That would bring it to two consecutive late-day losses, which could just be the result of the market trying to remain neutral heading into Friday. Employment data. Or maybe the market is starting to worry about the recent rise in oil prices? West Texas Intermediate crude oil traded lower for most of the session, but surged $1 around 1:45 p.m. ET — almost exactly in line with the stock market selloff. As we wrote in a commentary published Thursday morning: This increase in oil prices should not be ignored. .SPX @CL.1 1D mountain S&P 500 vs. WTI – 1-Day Jobs Friday: The past few government monthly jobs reports have shown an ostensibly resilient labor market with strong job growth and slower but significantly negative wage growth Revisions from previous months. This dynamic has led some market observers to believe cracks are starting to form. Let’s take a look at what the latest data shows and look at the corresponding moves in the Treasury market since the recent rise in bond yields has caused volatility in the stock market. Doubling down: Ford announces delays in production of new all-electric SUVs and pickup trucks. Instead, the automaker plans to expand its hybrid offerings. By the end of the decade, Ford expects to offer hybrid powertrains across the entire Ford Blue lineup in North America. Ford Blue Division covers all internal combustion engine (ICE) and hybrid vehicles. If you’ve been listening to CEO Jim Farley’s comments on the past few earnings calls, this update doesn’t come as a surprise. As demand for electric vehicles slows, pricing power weakens and rising interest rates increase the importance of profitability, Ford has naturally shifted to a more prudent capital allocation strategy and slowed the pace of investment in electric vehicles. That doesn’t mean the company has lost sight of expanding its profitable electric vehicle business in the long term, but we’d rather see Ford maximize profits and cash flow. The company responded to this call by producing more of the desired car types. This means that investment in hybrid vehicles has doubled, and hybrid vehicle sales increased by 42% in the first quarter. We think the market will reward this strategy over time. That was the case for much of Thursday, even as Ford shares fell after the market ran out of steam. Shares of the automaker closed up nearly 2.8% on Wednesday after releasing quarterly sales data. (See here for a complete list of stocks in the Jim Cramer Charitable Trust.) As a subscriber to Jim Cramer’s CNBC Investing Club, you will receive trade alerts before Jim makes his trades. Jim waits 45 minutes after sending a trade alert before buying or selling stocks in his charitable trust portfolio. If Jim talked about a stock on CNBC TV, he would wait 72 hours after issuing a trade alert before executing the trade. The investment club information above is subject to our Terms and Conditions and Privacy Policy and our Disclaimer. No fiduciary duty or obligation shall exist or arise upon your receipt of any information relating to the Investment Club. No specific results or profits are guaranteed.

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. (We are no longer recording audio so we can make this new written feature available to members as soon as possible.)

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