Jim Cramer’s top 10 things to watch in the stock market Wednesday
My top 10 things to watch Wednesday, April 3 Wall Street extends Tuesday’s losses as bond yields continue to rise. Stronger-than-expected hiring trends last month at U.S. companies, according to the latest ADP data. Members can view our reviews on how to decide when/if to purchase the dips. Atlanta Federal Reserve President Raphael Bostic expects only one interest rate cut this year. He believes this move, if it were to happen, would happen in the fourth quarter. Bostic expresses concern about the pace of inflation. I said the Fed doesn’t plan to scale back any time soon because of the strength of the economy. Did Nelson Peltz lose his fight for Disney board seats? It looks like it. Shareholder voting concludes at Wednesday’s annual meeting. The stock has seen good growth since it pushed Disney to recover. We reduced our position on Monday after this run. Deutsche Bank raises price target for Club Procter & Gamble from $170 to $175 per share. Maintains Buy rating ahead of quarterly results later this month. Channel checks seem solid. Eaton’s club name is being named as a buying catalyst at Deutsche Bank ahead of results at the end of the month. Analysts expect a beat and a recovery. In commentary on Tuesday, we covered Eaton and two other Club manufacturers getting positive mentions. Gordon Haskett puts up a “yellow flag” on Costco, downgrading to accumulate purchases. I think this could be an opportunity to buy the Club’s shares. Analysts at Gordon Haskett left their Costco price target unchanged at $775 per share. Gordon Haskett removes Five Below from accumulation and lowers price target to $200 per share from $210. The retailer had a weak quarter. Gordon Haskett takes Lowe’s to hold accumulation, but left the price target unchanged at $245. This call on the eve of the gardening season seems doubtful. Alphabet gets a lower price target at Wells Fargo, at $141 per share from $144. Analysts maintain an equivalent rating of hold. These are research concerns. We cut Alphabet, alongside Disney, on Monday. Citi questions Intel’s foundry business goals, calling them “questionable.” Intel shares fell more than 5% after the chipmaker revealed a widening operating loss in its manufacturing business. Sign up for my free e-newsletter Top 10 Morning Thoughts on the Market (see here for a complete list of stocks from Jim Cramer’s Charitable Trust.) As a subscriber to CNBC Investing Club with Jim Cramer, you will receive a trade alert. before Jim made a trade. Jim waits 45 minutes after a trade alert is sent before buying or selling a stock in his charity’s portfolio. If Jim talked about a stock on CNBC TV, he waits 72 hours after the trade alert is issued before executing the trade. THE ABOVE INVESTMENT CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY, AS WELL AS OUR DISCLAIMER. NO OBLIGATION OR FIDUCIARY OBLIGATION EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTMENT CLUB. NO SPECIFIC RESULTS OR PROFITS ARE GUARANTEED.
My top 10 things to watch for Wednesday April 3
Wall Street extends Tuesday’s losses as bond yields continue to rise. Stronger-than-expected hiring trends last month at U.S. companies, according to the latest ADP data. Members can view our reviews on how to decide when/if to purchase the dips.
Atlanta Federal Reserve President Raphael Bostic expects only one interest rate cut this year. He believes this move, if it were to happen, would happen in the fourth quarter. Bostic expresses concern about the pace of inflation. I said the Fed doesn’t plan to scale back any time soon because of the strength of the economy.
Did Nelson Peltz lose his fight for Disney seats on the board of directors? It looks like it. Shareholder voting concludes at Wednesday’s annual meeting. The stock has seen good growth since it pushed Disney to recover. We reduced our position on Monday after this period.
Deutsche Bank raises the name of the Club Procter & Gamble price target at $175 per share from $170. Maintains Buy rating ahead of quarterly results later this month. Channel checks seem solid.
Club name Eaton is named as a catalyst buy at Deutsche Bank ahead of month-end results. Analysts expect a beat and a recovery. In commentary on Tuesday, we covered Eaton and two other Club manufacturers getting positive mentions.
Gordon Haskett raises a “yellow flag” Costco, downgrade to accumulate purchase. I think this could be an opportunity to buy the Club’s shares. Analysts at Gordon Haskett left their Costco price target unchanged at $775 per share.
Gordon Haskett takes Five below to accumulate and lowers the price target to $200 per share from $210. The retailer had a weak quarter.
Gordon Haskett takes Lowes to hold, but left the price target unchanged at $245. This call on the eve of the gardening season seems doubtful.
Alphabet gets a lower price target at Wells Fargo, at $141 per share from $144. Analysts maintain an equivalent rating of hold. These are research concerns. We cut Alphabet, alongside Disney, on Monday.
Citi Questions IntelThe foundry company’s goals, calling them “questionable.” Intel shares fell more than 5% after the chipmaker revealed a widening operating loss in its manufacturing business.
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As a subscriber to CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after a trade alert is sent before buying or selling a stock in his charity’s portfolio. If Jim talked about a stock on CNBC TV, he waits 72 hours after the trade alert is issued before executing the trade.
THE ABOVE INVESTMENT CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY, AS WELL AS OUR DISCLAIMER. NO OBLIGATION OR FIDUCIARY OBLIGATION EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTMENT CLUB. NO SPECIFIC RESULTS OR PROFITS ARE GUARANTEED.