Lopsided action in the market as Big Tech stumbles while retail rises

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. Market update : Stocks are higher on Wednesday, extending the S & P 500 's win streak to three days and the recent rebound to more than 3%. However, there's some lopsided action on the tape, with pressure in mega-cap AI stocks like Nvidia , AMD , and Oracle weighing on the Nasdaq. The concern is that Meta Platforms, one of Nvidia's big customers, will strike a deal with Alphabet to use its tensor processing units for its data centers. And that would lead to Nvidia ceding share to Broadcom , which partners with Alphabet to design and make the custom chips. Meta rallied on this news, too, under the idea that it wouldn't ha