My Top 10 Things to Watch on Thursday, October 10 1. Wall Street was lower after September's inflation and weekly initial unemployment claims data were both worse than expected. The S&P 500 and the Dow each closed Wednesday's session at record highs and were sitting on solid gains for the week. The Nasdaq was leading the way this week, gaining about 1%, but it was still about 2% short of its July record. 2. The consumer price index for September rose 0.2% month over month and 2.4% year over year – both slightly warmer than expected. Jobless claims for the week ending October 5 were 258,000, above the 230,000 estimate. The latest data on wholesale inflation will come on Friday. 3. Morgan Stanley analysts met with Nvidia CEO Jensen Huang and CFO Colette Cress in New York City this week and said “long-term confidence remains high.” The club remains Morgan Stanley's top choice in semiconductors. Nvidia is on a three-day road show showcasing its artificial intelligence capabilities. 4. Tesla held its robotaxis event on Thursday evening. How far ahead is Elon Musk's company in autonomous vehicles? The neural networks behind self-driving will be revealed. Alphabet's Waymo self-driving taxi platform also uses Nvidia. Tesla still uses Nvidia for its Dojo training computers. 5. Advanced Micro Devices held its Advancing AI event at noon ET. CEO Lisa Su's presentation on GPUs is seen as a potential catalyst for the stock. AMD is lagging behind Nvidia but is still seeing a lot of demand. There is debate over whether the club will raise guidance Thursday or with earnings at the end of the month. 6. Goldman Sachs cut its Microsoft price target to $500 a share from $515 on slightly lower free cash flow expectations. Analysts maintained their buy rating as revenues are forecast to rise 14% on strong Azure cloud activity. He said the club name's earnings growth expectations justify its stock valuation. 7. Costco reported late Wednesday that net sales rose 9% in September to $24.62 billion. Same-store sales – both headline and pre-impact gasoline prices – were up in every region. E-commerce increased. Wells Fargo analysts said that “already strong companies benefit from the stock-up behavior of the hurricane/port strike.” 8. JPMorgan downgraded Honeywell from overweight to neutral. Analysts raised their price target on Club Holding to $235 per share from $225. He has been a longtime supporter of Honeywell for 15 years, but he worries that its ingredients are weakening. 9. Citi casts doubt on Netflix's growth. Analysts expect a decline when the streaming giant reports earnings next week. However, Morgan Stanley said Hollywood favors Netflix and thinks the company should deliver a good quarter. How many times do we have to play this game? 10. Kind of a crazy move by former Pfizer CEO Ian Reed and former CFO Frank D'Amelio. They overruled activist investor group Starboard, which owns a stake and wants to find ways to boost shareholder value in the struggling drugmaker. Read and D'Amelio said they are “completely supportive” of current Pfizer CEO Albert Bourla. Sign up for free for my Top 10 Morning Thoughts on the Market email newsletter (See here for a full list of Jim Cramer Charitable Trust stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you receive a trade alert Will happen before Jim does any business. Jim waits 45 minutes after a trade alert is sent before buying or selling stocks in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after the trade alert is issued before executing the trade. The Investment Club information above is subject to our disclaimer as well as our terms and conditions and privacy policy. No fiduciary obligation or duty exists, or is created, by virtue of your receipt of any information provided in connection with the Investment Club. No specific results or benefits are guaranteed.
My Top 10 Things to Watch on Thursday, October 10th
1. Wall Street was down after September inflation and weekly initial unemployment claims data came in worse than expected. S&P 500 And dow Each closed Wednesday's session at record highs and sit on solid gains for the week. nasdaq It led the way with a gain of about 1% this week, but was still about 2% short of its July record.
2. The consumer price index for September rose 0.2% month over month and 2.4% year over year – both slightly warmer than expected. Jobless claims for the week ending October 5 were 258,000, above the 230,000 estimate. The latest data on wholesale inflation will come on Friday.
3. Morgan Stanley analysts meet in New York City NVIDIA CEO Jensen Huang and CFO Colette Cress said this week that “long-term confidence remains high.” The club remains Morgan Stanley's top choice in semiconductors. Nvidia is on a three-day road show showcasing its artificial intelligence capabilities.