Jim Cramer shared his top 10 things to watch in the stock market. The S&P 500 was set for a slightly lower open after modest gains on the first trading day of June. Tariffs remain a key concern, and the OECD has cut its U.S. economic growth forecast sharply.
Meta Platforms has struck a deal to use Constellation Energy’s nuclear power in Illinois for 20 years to power its data centers. Constellation shares surged nearly 11% on this news, boosting nuclear stocks. GE Vernova is a significant player in nuclear construction.
JPMorgan upgraded Pinterest to ‘buy’ from ‘neutral’ and raised its price target to $40 per share from $35. The analysts cited progress from Pinterest’s growth strategies outlined during its 2023 investor day. This could make Pinterest and Reddit attractive, cost-effective ad platforms.
Bernstein lowered its price target for Campbell’s to $44 from $47 but maintained an ‘outperform’ buy rating. The analysts noted that Campbell’s earnings were “not too shabby,” although the company did not address concerns regarding GLP-1. Texas legislation, awaiting the governor’s signature, would mandate “not recommended for human consumption” warnings on ultra-processed snacks and beverages.
Cramer’s top stock market insights
This would impact companies such as Campbell’s, PepsiCo, General Mills, Kellogg, and Mondelez. Shares of Dollar General jumped more than 9% after the retailer beat quarterly earnings and revenue estimates and raised its guidance.
Cramer has been bullish on dollar store stocks, predicting their rise. Barclays raised its price target for Taiwan Semiconductor Manufacturing to $240 from $215, maintaining an ‘overweight’ buy rating. The analysts see “upside in advanced logic but downside risk in memory.” This positive outlook for TSMC bodes well for Nvidia as well.
Piper Sandler increased its price target for Lululemon to $315 from $280. Despite this being a catch-up call, it is still below yesterday’s closing price of roughly $323. The analysts believe the athletic wear maker could outperform when it reports earnings on Thursday, anticipating a positive surprise.
Microsoft is set to cut hundreds more jobs after already laying off 6,000 employees, marking about 3% of its 228,000-strong workforce as of last June. This is the largest reduction since the company cut 10,000 jobs in 2023. Cantor Fitzgerald initiated coverage on Salesforce with an ‘overweight’ buy rating and a $325 price target.
This represents a 24% increase from yesterday’s close. Analysts cited margin expansion, capital allocation, and reasonable valuation as key factors.
