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: The S & P 500 is trying to make it three straight days of initially opening lower only to finish the session in positive territory. This comes as the market debates if today’s tariff announcements are already priced into stocks, even as we won’t fully understand their impact for months. The market will gain some clarity later this afternoon when President Trump unveils his trade plan at a Rose Garden event at 4 p.m. ET. But the size and scope of the tariffs are still unclear, with recent reporting suggesting they could be anywhere from a 20% universal tariff on all imports, to reciprocal charges across different countries, to a more targeted plan. And will the announced tariffs be the maximum level, with room to go down? Or will the tariff aggression escalate from here? We’ll get a better idea later, which is why at this point we’ve elected to sit on our hands and do nothing until more information is known. Amazon and TikTok? The New York Times reported that Amazon made a late bid to buy TikTok’s U.S. operations. It’s unclear how serious Amazon’s chances are at winning this bid and there’s still a possibility of ByteDance retaining control of TikTok. There are also other potential suitors involved. An Oracle -led group is trying to buy the platform, and CNBC’s David Faber reported AppLovin is another bidder. TikTok’s fate is anyone’s best guess, but this would be a huge get for Amazon if it comes out on top. There are clear synergies for its e-commerce platform, which it could integrate with the social media platform and partner with content creators to sell more goods. TikTok would also provide a huge boost to Amazon’s growing advertising business. Nice to have for Amazon, but we wouldn’t buy the stock in anticipation of this deal working out. We have a 1 rating on Amazon because it is improving margins by driving efficiencies and reducing its cost to serve retail customers, plus the stock is on sale trading nearly 20% from its February highs. In other news, Amazon said it will send 27 Kuiper Satellites into space later this month. The goal of Project Kuiper is to increase access to high-speed internet around the world. Up next: We will keep a close eye on all the trade and tariff headlines expected to come out later. In addition to the news from the White House, we must be mindful of how other countries respond — and possibly retaliate. We should know more on that by Thursday morning. From an earnings perspective, the luxury home furnishing company RH reports after the closing bell, and food stocks Conagra and Lamb Weston report before the open on Thursday. On the data side, we’ll see initial jobless claims, the final read on S & P Global US Services, and ISM services index. (See here for a full list of the stocks in Jim Cramer’s Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.