Johnson & Johnson reaches a milestone for one of its most exciting pipeline products

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. Markets are climbing to new record highs , and the AI infrastructure buildout theme is leading the charge once again. Unlike Monday's market pullback, oil prices and interest rates aren't getting in the way of a rally.

With no new escalations in the Middle East conflict, U. oil standard West Texas Intermediate crude is down about 4% on Tuesday; the benchmark 10-year Treasury yield is slightly lower. Red-hot chipmakers Intel , SanDisk and Micron are seeing double-digit percentage gains, powering the overall strong day for technology stocks.

Economic Details

While we don't own those three companies, many of our AI stocks traded up nicely, including Broadcom , Arm Holdings , Qnity Electronics and Corning . Amazon , Broadcom, Alphabet , and Qnity all hit new 52-weeks highs in the session. The top-performing sector in the S & P 500 on Tuesday is actually materials, with Club name DuPont the biggest mover in the group thanks to its strong earnings report .

Johnson & Johnson announced on Tuesday that its investigational Ottava robotic surgery system has achieved a critical milestone. In its first clinical study evaluating the safety and performance of the system in Roux-en-Y gastric bypass procedures, Ottava met its primary endpoints through 30 days post-procedure. The data were presented at the 2026 American Society for Metabolic and Bariatric Surgery Annual Meeting.

In a note to clients, analysts at Cowen said they believe the results will be sufficient to support Food and Drug Administration clearance for multiple procedures in the upper abdomen. J & J is also studying Ottava in inguinal hernia repair, which Cowen said is one of the most common surgeries in the U. The broader takeaway is that J & J is poised to enter a robotic surgery market long dominated by Intuitive Surgical's da Vinci systems.

Analyst Views

Last month, J & J said it expects Ottava to be approved sometime in 2026. Approval for Ottava would be another step in helping J & J deliver on its goal of achieving double-digit revenue growth by the end of the decade. It's a big night of tech earnings with Advanced Micro Devices , Arista Networks , Super Micro , Lumentum and Astera Labs scheduled to report.

Before the opening bell on Wednesday, we'll see earnings from Disney , Uber , CVS Health , Kraft Heinz , Apollo Global Management , and EOG Resources . On the data side we'll see mortgage applications and payroll processor ADP's April employment report. Finally, we'll have our eye on Club name Corning's investor day, which kicks off at 9 a.

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