Jim Cramer’s top 10 things to watch in the stock market Tuesday

By News Room Last updated Oct 15, 2024

My top 10 things to watch Tuesday, Oct. 15 1. Wall Street was muted Tuesday after more record closes for the S & P 500 and the Dow . The Nasdaq on Monday closed within 1% of its July record. Bank earnings continued to flood the market. Oil, both U.S. and international prices, were sinking as supply concerns overshadowed risk from escalating Iran-Irael tensions. 2. Dow stock Goldman Sachs rose roughly 3% after the banking giant crushed estimates for quarterly earnings and revenue. Investment banking boosted results like it did for JPMorgan and Club name Wells Fargo on Friday. Wealth management at Goldman was very, very strong. It was just a tremendous quarter. 3. Strong investment banking was at the center of Citigroup and Bank of America quarterly beats. Citi said its turnaround is moving in the right direction. At BofA, net interest income (NII) was fine; saw solid growth; good credit; and has good tech. In fact, it’s a cheap, cheap stock with lots of upside because of digitization. 4 . Bank stocks are rallying again Tuesday. Club holding Morgan Stanley was working on a three-session winning streak after closing at a record high. Morgan Stanley reports Wednesday. Wells Fargo stock was working on an eight-session winning streak after closing at its highest level since January 2018. 5. Dow stock Johnson & Johnson was falling more than 1% despite much better-than-expected quarterly earnings and revenue. J & J has fast growing pharma and good medical devices. J & J has said that 83% of claimants have now subscribed to talc settlement. 6. Dow stock UnitedHealth dropped more than 9.5%. The insurer did not raise guidance for the first time in ages after beating on quarterly revenue. Initially, the situation looked like it might not be that bad. But the stock started to really sink as the post-earnings conference call progressed. 7. Walgreens shares jumped 3.5% after the pharmacy chain announced plans to closed 1,200 stores by 2027. That includes 500 next year. The company did beat on quarterly earnings and revenue. 8. Club name Nvidia was under pressure Tuesday after marching 50% higher from its Aug. 5 intraday low and closing at a record high. The AI chip powerhouse has led the two-year bull market with gains of more than 1,000%. What’s next for Nvidia and the rest of the Club portfolio will be covered in our October Monthly Meeting at noon ET on Wednesday. 9. JMP Securities hiked its price target on the much-loved Bookings to $5,000 per share from $3,950, implying roughly 16% upside from Monday’s closed. The analysts cited market share gains from rival Expedia and durable travel trends. However, Bookings is really the only durable travel trend that I know. 10. Barclays changed price targets on some automakers. The analysts cut Rivian to $13 per share from $16 and kept their hold. Could this be the end of negative revisions? Barclays boosted General Motors to $64 from $60. Ford was lowered to $14 from $16. The analysts kept overweight buys on each. My questions remain about Ford: warranty issues and no buyback? Sign up for my Top 10 Morning Thoughts on the Market email newsletter for free (See here for a full list of the stocks at Jim Cramer’s Charitable Trust.) As a subscriber to the CNBC Investing Club 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 about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.

My top 10 things to watch Tuesday, Oct. 15

1. Wall Street was muted Tuesday after more record closes for the S&P 500 and the Dow. The Nasdaq on Monday closed within 1% of its July record. Bank earnings continued to flood the market. Oil, both U.S. and international prices, were sinking as supply concerns overshadowed risk from escalating Iran-Irael tensions.

2. Dow stock Goldman Sachs rose roughly 3% after the banking giant crushed estimates for quarterly earnings and revenue. Investment banking boosted results like it did for JPMorgan and Club name Wells Fargo on Friday. Wealth management at Goldman was very, very strong. It was just a tremendous quarter.

3. Strong investment banking was at the center of Citigroup and Bank of America quarterly beats. Citi said its turnaround is moving in the right direction. At BofA, net interest income (NII) was fine; saw solid growth; good credit; and has good tech. In fact, it’s a cheap, cheap stock with lots of upside because of digitization.

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