Apple's next big product launch, plus another good sign for Street dealmaking

Every weekday, the CNBC with Jim Cramer releases the stretch — an actionable afternoon , time for the last hour of trading on Wall Street

Market : Stocks are slightly up on Tuesday ing Monday's dip

Industrials, health care (thanks to Eli Lilly ), and nology stocks are outperforming, while energy, consumer staples, and communication Services are lagging

Most of the news over the past few days has come from Washington rather than corporate activity

There's been no major market reaction to President Donald Trump saying he fired Federal Reserve Governor Lisa Cook

She said she won't resign, and her attorney said they are filing a lawsuit challenging the action

In other news, Commerce Secretary Howard Lutnick said on CNBC's "Squawk Box" that the administration is considering acquiring an equity stake in defense companies Lockheed Martin due to their reliance on federal contracts

The market will return its focus to how companies are doing in the middle of the week when we get earnings from several retail names and big companies, including Nvidia Wednesday evening

Skinny iPhone? Apple said it will host a duct event on Sept. 9, when it is widely expected to introduce the iPhone 17

The upcoming smartphone lineup is expected to feature a slimmed-down version, along with the usual camera and battery upgrades

The 17 will bably be viewed once again as evolutionary versus revolutionary, but newer features are on the horizon

Bloomberg reported Sunday that Apple is planning to release a foldable iPhone in 2026 and a curved glass iPhone in 2027

IPO market keeps humming : Another high-file initial public offering (IPO) is heading to market next month, which bodes well for investment banking divisions within holdings Goldman Sachs and Wells Fargo

Swedish lender Klarna is eyeing a valuation between $13 billion and $14 billion for September, according to a Reuters report Tuesday, citing sources familiar with the deal. s sold in the IPO could be priced as early as this week at between $34 and $36 apiece

Klarna previously paused its plans to go public in April after President Donald Trump's "recical" tariffs caused financial to whipsaw

Goldman was named a lead underwriter earlier this year, but it's un if that is still the case

If Goldman remains on the deal, this means more revenues for its crown jewel IB division

Zooming out, it's also another good sign for the rebound in Wall Street deals broadly — which was a key reason why we initiated a position in Goldman late last year and swapped out Morgan Stanley

The company derives the majority of its revenues from this division, which also includes advising mergers and acquisitions (M & A), and has maintained its dominance in the industry

Case in point: Goldman was ranked No. 1 in overall global M & A activity for the first seven months of 2025, according to LSEG data

These efforts diversify Wells' revenues so the company is less reliant on interest-based revenues that are at the mercy of the yield curve

There have been 139 IPOs priced year to date, Renaissance Capital said on Tuesday, a 58% increase from 2024

One reason why we've seen an explosion of IPOs versus last year is that many companies have seen their stock prices soar in the first few days of trading

However, the outperformance has been fleeting with many down significantly from their euphoric highs

Up next: Okta , MongoDB , and PVH report after the closing bell on Tuesday

Before the opening bell on Wednesday, we'll see earnings from a bunch of retail and consumer names

Kohl's , Abercombie & Fitch , Williams-Sonoma , and JM Smucker report earnings

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