The CNBC Investing Club with Jim Cramer has released an afternoon update on Wall Street, with the S & P 500 heading for its fourth consecutive losing week. The decline extended the index's pullback from its closing high on Jan. 27 to roughly 6%. The 10-Year Treasury yield rose to 4.38%, its highest level since July, amid concerns about an oil-driven inflation. Energy was the top-performing sector, gaining about 4%, extending its run this year to 33%. Financials gained a small gain due to easing concerns over private credit, and new rules that relax capital requirements could be a long-term tailwind for banks. Consumer staples such as Costco and Procter & Gamble dropped about 3% this week. However, rising input costs in an inflationary environment will impact these sectors, particularly those that lack pricing power to offset these pressures. Cramer is upgrading his rating on Honeywell to a 1.0%, while looking to buy back some of the stock he sold in early February at a price more than $10 above the current price. The next week will be a relatively quiet period for corporate news, with no companies scheduled to report.