Can the S&P 500 hold on for a 7th weekly gain? Plus, Friday's best and worst stocks

An important development from the financial markets: 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 pulled back on Friday, but the S & P 500 is still on pace for its seventh straight positive week. The market moved lower in response to a huge bond selloff, which pushed the 10-year Treasury yield to roughly 4.

The 30-year Treasury yield topped 5. 1%, its highest level since last May. Bond prices and yields move inversely.

Economic Details

Oil climbed, with West Texas Intermediate crude pushing back above $105 per barrel. The rise in market interest rates, reflected in bond yields, and rising oil prices was a catalyst for profit-taking across the red-hot AI trade, with stocks like portfolio names Arm Holdings , Nvidia, Qnity Electronics, Broadcom , Corning, and Eaton giving back recent gains. The five biggest gainers in the portfolio this week were Palo Alto Networks, CrowdStrike , Qnity, Nvidia , and Cardinal Health .

Our cybersecurity names were big winners after the market realized AI is an accelerant to their industry, not a replacement. A blog post published by Palo Alto Networks on Wednesday estimated that organizations have three to five months to take action now before AI-driven exploits become the new norm. Qnity had a great week after reporting a strong beat and raise .

Nvidia made a new record high on Thursday due to enthusiasm for AI spending. Plus, investors viewed CEO Jensen Huang joining President Donald Trump on his trip to China as a positive sign for the likelihood that Chinese companies could resume purchasing chips. Cardinal Health finally put together a positive week on some encouraging prescription medication volume data.

Analyst Views

The five biggest losers in the portfolio this week were Boeing , Home Depot, Dover , Salesforce, and Amazon . Boeing rallied ahead of the China meeting in anticipation of a big order, but the 200 jet deal Trump announced lacked details and was below the expectation of 500. Many consumer discretionary stocks sold off this week on renewed inflation concerns, but Home Depot was hit especially hard as rising mortgage rates threaten to keep the housing market frozen.

Dover fell for unclear reasons. It was actually a little surprising to see the industrial stock so low on the list. But higher rates could slow industrial activity, and short-cycle industrial companies are usually the first to feel the impact.

Dover is coming off a quarter in which orders surged, and management said that demand continued in April, so we're not making any decisions on the stock yet. Salesforce 's strong Friday couldn't make up for its bad start to the week. In the current environment, traditional software stocks tend to have an inverse relationship with the AI trade.

Financial markets are tracking the development closely as investors assess the likely impact.