S&P 500 struggles to make it two wins in row — plus, a portfolio name leads the M&A race

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

Market moves : Wall Street on Tuesday was having a hard time keeping Monday's rally going

During Tuesday morning's CNBC interview, President Donald Trump was asked the jobs numbers, and he stood by his assertion that the jobs numbers were rigged to make him look bad

Trump also said pharma tariffs could go up to 250% and that semiconductor levies could come as soon as next week

The president also said four people are being considered for Fed chair

He said, "Both Kevins are very good," referring to speculation former Fed Governor Kevin Warsh and Kevin Hassett, the current National Economic Council director and a key Trump advisor. "There are other people that are very good, too," Trump said, adding, however, that Treasury Secretary Scott Bessent does not want the Fed job

M & A ranking : Goldman Sachs was No. 1 in mergers and acquisitions (M & A) so far in 2025, according to new LSEG data

For the first seven months of the year, the holding was the top global M & A financial advisor by both number and value of deals

Morgan Stanley and JPMorgan ed

The Wall Street powerhouse grabbed 32% of market , according to LSEG

There were significant imvements for fellow name Wells Fargo , too

The bank jumped to seventh place in this year's M & A rankings, up from 16th last year

The influx of deals for Goldman and Wells is a part of a broader M & A pickup

Global M & A reached $2.36 trillion during the first seven months of the year, a 35% increase from the year prior, according to LSEG

While the overall price tag of the deals went up, the number of actual deals announced over the seven-month period hit a five-year low

So, fewer deals but much bigger swings

There have been five high-file M & A transactions, worth at least $10 billion or more, announced in July alone

Wells Fargo is an advisor on the deal

Goldman was tapped to help Baker Hughes buy Chart Industries for $13.6 billion, according to a July 29 company announcement

Overall, the rebound in Wall Street dealmaking is great news for Goldman Sachs because investment banking is a crucial for the firm

It's also a key reason why the first started a position earlier this year

Additionally, Wells Fargo moving up in the M & A ranks is a sign that management's expansion into investment banking is paying off

Although Wells is known as a Main Street lender, we that the firm is diversifying its revenue s to not rely so heavily on interest-based income s

Tariff : Honeywell CEO Vimal Kapur told CNBC Tuesday that the impact of the next wave of tariffs remains unknown

But roughly five weeks into the third quarter, Kapur said he has not seen any tariff impact that would change the earnings-per- (EPS) outlook that the company issued nearly two weeks ago as part of its second quarter financials

Management raised Honeywell's full-year outlook for revenue , organic sales growth, and adjusted EPS during earnings on July 24

Kapur said trade policy are "a new factor that's coming in," but that "so far we haven't seen any impact" beyond the scope mentioned on the post-earnings call. "That's why we remain confident of the earnings guide that we gave," he added

Automation will stay with the current Honeywell, and aerospace and advanced materials will be split off

The CEO said the "spinoffs are gressing on time" as well

This is reassuring news for investors us

That's because for over a year, Jim has insisted that Honeywell needs to dramatically reshape its portfolio of far-flung es

Not only did Honeywell's organic revenue growth continue to disappoint Wall Street in recent years, but its s have lagged compared to peers as well

We think this will change once Honeywell's break-up is , as the Street starts to see the quality fundamentals in each standalone company

That being said, don't expect many more significant portfolio moves from Honeywell. "We have majorly our portfolio transformation work," Kapur said

Up next : After covering Coterra , Eaton , and DuPont earnings Tuesday (we also bought some more DuPont), name Disney reports its quarter before Wednesday's open

Parks and ing are two keys items to watch, especially ing the Athletic report that the NFL will vide ESPN with many of the league's media assets in exchange for equity in the sports network

Eli Lilly and Texas Roadhouse , also positions in the portfolio, are out with earnings before Thursday's open and after the close, respectively. (See here for a full list of the stocks in Jim Cramer's Charitable Trust.) As a r to the CNBC 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 a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade

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