My top 10 things to watch Tuesday, Oct. 1 1. Wall Street is heading for a lower open on the first day of October. The S & P 500 had a positive September for the first time in five years. September is historically the worst month of the year. With a 5.5% gain in the third quarter, the S & P 500 enters the seasonally bullish period into year-end up nearly 21% in 2024. 2. Fed Chairman Jerome Powell said Monday the central bank is not on a preset easing course, signaling smaller rate moves going forward after September’s 50-basis-point cut. The next big event that could influence the Fed and the stock market comes Friday when the government releases its September employment report. 3. Pivotal Research initiated Club stocks Meta Platforms and Alphabet with buy ratings and respective price targets of $780 per share (35% upside to Monday’s close) and $215 (28% upside). The analysts see strong revenue growth ahead for Meta and a “deep moat” competitively at Alphabet. 4. Citi raised its Medtronic price target to $92 per share from $85, though analysts remained cautious. The best medtech alternative is Club name GE Healthcare , which has a newly FDA approved diagnostic agent and a tailwind from Fed rate cuts going for it. GEHC shares have been a top performer in our portfolio lately. 5. Stephens started Club name Danaher with an overweight buy rating and a $315-per-share price target, implying roughly 13% upside. The analysts see a pickup in biotech funding and Chinese economic stimulus as positives, putting the life sciences giant in a better position next year. 6. Barclays said Apple is seeing weak demand for its new AI-ready iPhone 16. Club members know that I am always skeptical of these so-called channel checks. I have said it over and over again, the expected robust upgrade does not have to happen all at once. 7. Citi upgraded Anheuser-Busch Inbev to buy from neutral. Is a large buyback coming? In beer, we own Modelo and Corona brewer Constellation Brands , which reports earnings before Thursday’s opening bell. Constellation reset expectations last month and the market took it in stride. We want to see what’s next. 8. KeyBanc raised its Netflix price target to $760 per share from $735. Who would have thought that of the FANG and “Magnificent Seven” stocks the video streaming giant would be the best? Meanwhile, Raymond James downgraded Club name Disney to a market perform hold rating. The analysts are concerned about the moderating parks business. 9. East Coast and Gulf Coast union port workers went on strike after a midnight labor contract deadline came and went. It was the first walkout by the International Longshoremen’s Association since 1977. Costco and Home Depot were among the Club names that were preparing for the work stoppage. 10. Wells Fargo cut its Boeing price target to $110 per share from $119 and kept its sell-equivalent rating on the aircraft maker. Boeing factory workers have been striking for nearly three weeks. Bloomberg reported that Boeing is thinking about a $10 billion equity raise. 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. 1
1. Wall Street is heading for a lower open on the first day of October. The S&P 500 had a positive September for the first time in five years. September is historically the worst month of the year. With a 5.5% gain in the third quarter, the S&P 500 enters the seasonally bullish period into year-end up nearly 21% in 2024.
2. Fed Chairman Jerome Powell said Monday the central bank is not on a preset easing course, signaling smaller rate moves going forward after September’s 50-basis-point cut. The next big event that could influence the Fed and the stock market comes Friday when the government releases its September employment report.
3. Pivotal Research initiated Club stocks Meta Platforms and Alphabet with buy ratings and respective price targets of $780 per share (35% upside to Monday’s close) and $215 (28% upside). The analysts see strong revenue growth ahead for Meta and a “deep moat” competitively at Alphabet.
4. Citi raised its Medtronic price target to $92 per share from $85, though analysts remained cautious. The best medtech alternative is Club name GE Healthcare, which has a newly FDA approved diagnostic agent and a tailwind from Fed rate cuts going for it. GEHC shares have been a top performer in our portfolio lately.
5. Stephens started Club name Danaher with an overweight buy rating and a $315-per-share price target, implying roughly 13% upside. The analysts see a pickup in biotech funding and Chinese economic stimulus as positives, putting the life sciences giant in a better position next year.
6. Barclays said Apple is seeing weak demand for its new AI-ready iPhone 16. Club members know that I am always skeptical of these so-called channel checks. I have said it over and over again, the expected robust upgrade does not have to happen all at once.
7. Citi upgraded Anheuser-Busch Inbev to buy from neutral. Is a large buyback coming? In beer, we own Modelo and Corona brewer Constellation Brands, which reports earnings before Thursday’s opening bell. Constellation reset expectations last month and the market took it in stride. We want to see what’s next.
8. KeyBanc raised its Netflix price target to $760 per share from $735. Who would have thought that of the FANG and “Magnificent Seven” stocks the video streaming giant would be the best? Meanwhile, Raymond James downgraded Club name Disney to a market perform hold rating. The analysts are concerned about the moderating parks business.
9. East Coast and Gulf Coast union port workers went on strike after a midnight labor contract deadline came and went. It was the first walkout by the International Longshoremen’s Association since 1977. Costco and Home Depot were among the Club names that were preparing for the work stoppage.
10. Wells Fargo cut its Boeing price target to $110 per share from $119 and kept its sell-equivalent rating on the aircraft maker. Boeing factory workers have been striking for nearly three weeks. Bloomberg reported that Boeing is thinking about a $10 billion equity raise.
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.)
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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.
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