Every weekday, the CNBC with Jim Cramer releases the stretch — an actionable afternoon , time for the last hour of trading on Wall Street.
Market : The S & P 500 is off to a muted start to the week, but the broad-based index has clawed back losses thanks to investors buying the dip in nology stocks.
The tepid action s Friday's strong rally, which pushed the S & P Oscillator near overbought territory and may explain some of the modest giveback.
The market hasn't had much to react to in terms of headlines.
A notable piece of news came earlier on "Squawk Box" when National Economic Advisor Kevin Hassett said it's possible that the administration will take stakes in more companies, the deal it announced last Friday with Intel .
It's bable that we could see more deals but it's too hard to know. Starbucks : Starbucks is a notable underperformer in the session on Monday.
Some of it could be due to competitive concerns after Keurig Dr Pepper announced it is buying the parent of Peet's Coffee with plans to separate the coffee .
But what's more ly moving the stock is a Bloomberg story from late Friday that said the coffeemaker is scaling back duction at its five U.S. plants, which run 24 hours a day.
Starting in January, the facilities will shift to a new five-day schedule, down from the previous seven.
Cost-cutting was one explanation for this change, but the story also mentions that Starbucks doesn't need these plants running every day to meet current demand.
Bloomberg said Starbucks declined to on the story. A general rule thumb is that you never want to hear a company is scaling back capacity because demand is lower than before.
This explains why the stock is down on Monday and there's no debate there.
We don't know the company's exact motive — Bloomberg said Starbucks declined to — but this move was bably a long time coming after the had six straight quarters of negative same store sales.
Still, we appreciate that Starbucks' operations will be run more efficiently after this, and it matters with coffee prices back at their May highs.
Up next: There are no major earning reports after the closing bell on Monday and before the opening bell on Tuesday.
On the data side, we'll see the July durable goods orders report and the Conference Board's survey of U.S. consumer confidence for August.
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