My Top 10 Things to Watch Thursday, October 10 1. Wall Street was lower after both September inflation and weekly initial jobless claims came in worse than expected. The S&P 500 and Dow each closed Wednesday's session at record highs and were sitting on solid gains for the week. The Nasdaq edged up about 1% this week, but it was still about 2% away from July's record. 2. The Consumer Price Index for September rose 0.2% month-on-month and 2.4% year-on-year – both slightly warmer than expected. Jobless claims were 258,000 for the week ended Oct. 5, beating estimates of 230,000. The latest figures for wholesale inflation were released on Friday. 3. Morgan Stanley analysts met with Nvidia CEO Jensen Huang and CFO Colette Kress in New York City this week and said “long-term confidence remains high.” The club name remains Morgan Stanley's top pick in semiconductors. Nvidia is on a three-day roadshow to showcase its artificial intelligence capabilities. 4. Tesla held its Robotaxis event on Thursday evening. How far is Elon Musk's company in autonomous vehicles? The neural network behind self-driving will be revealed. Alphabet's Waymo self-driving taxi platform uses Nvidia. Tesla still uses Nvidia for its Dojo training computers. 5. Advanced Micro Devices' Advancing AI event takes place at noon ET. CEO Lisa Su's presentation of GPUs is seen as a potential catalyst for the stock. AMD lags behind Nvidia but still sees a lot of demand. There is debate over whether the club will raise guidance on Thursday or with earnings later in the month. 6. Goldman Sachs cut its Microsoft price target to $500 per share from $515 on slightly lower free cash flow expectations. Analysts kept their buy rating as strong Azure cloud activity is projected to boost revenue by 14%. They added that the club's revenue growth expectations support its stock valuation. 7. Costco reported late Wednesday that net sales rose 9% to $24.62 billion in September. Same-store sales — the effect of both headline and ex-gasoline prices — rose in every region E-commerce has grown. Wells Fargo analysts said that “already strong comps benefit from hurricane/port strike stock-up behavior.” 8. JPMorgan downgraded Honeywell to neutral from overweight. Analysts raised their price target on Club Hold from $225 to $235 per share. They have been long-time supporters of Honeywell for 15 years, but are concerned that its components appear to be confusing the spin-off. 9. The City casts doubt on Netflix's growth. Analysts expect the streaming giant to come up short when it reports earnings next week. Morgan Stanley, however, said Hollywood backs Netflix and thinks the company should deliver a good quarter. How often do we play this game? 10. Former Pfizer CEO Ian Reid and former CFO Frank D'Amelio are kind of crazy. They have pulled out of activist investor group Starboard, which owns a stake, and want to find ways to increase shareholder value in the struggling drugmaker. Reed and D'Amelio said they are “fully supportive” of current Pfizer CEO Albert Borler. Sign up for my free Top 10 Morning Thoughts in the Market email newsletter (see here for a complete list of Jim Cramer's Charitable Trust stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you'll 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 charitable trust portfolio. If Jim is talking about a stock on CNBC TV, he waits 72 hours after the trade alert is issued before executing the trade. The above Investing Club information is subject to our terms and privacy policy, together with our disclaimer. No fiduciary obligation or responsibility exists, or is created, by reason of your receipt of any information provided in connection with Investing Club. No specific results or profits are guaranteed.
My top 10 things to watch on Thursday, October 10.
1. Wall Street was lower after both September inflation and weekly initial jobless claims came in worse than expected. D S&P 500 And Dao Each closed Wednesday's session at record highs and sitting on solid gains for the week. D Nasdaq It was ahead this week, by about 1%, but it was still about 2% away from its July record.
2. The consumer price index for September rose 0.2% month-on-month and 2.4% year-on-year – both slightly warmer than expected. Jobless claims were 258,000 for the week ended Oct. 5, beating estimates of 230,000. The latest figures for wholesale inflation were released on Friday.
3. Morgan Stanley met with analysts in New York City Nvidia CEO Jensen Huang and CFO Colette Kress this week and said that “long-term confidence remains high.” The club name remains Morgan Stanley's top pick in semiconductors. Nvidia is on a three-day roadshow to showcase its artificial intelligence capabilities.
