My top 10 things to watch Friday, June 28 The S & P 500 and Nasdaq are on track for their fourth-straight session of gains Friday after the Federal Reserve’s preferred inflation gauge showed that inflation cooled in May. Entering the final trading day of the second quarter, the S & P 500 has climbed 15% year to date while the tech-heavy Nasdaq has advanced 19%. The laggard Dow is up just 3.8%. The core PCE index in May rose 2.6% year over year, matching Wall Street estimates and representing the lowest annual increase since March 2021. In April, the inflation measure rose 2.8% annually. The CME FedWatch tool still indicates that the market expects the Fed to make its first rate cut during this inflation-fighting campaign in September. The Fed’s post-June meeting projections were for one cut by the end of the year. Nike disaster. What is going on here? The Dow stock sank more than 15% after the company missed on quarterly revenue and forecast a much larger than expected sales decline of 10% during its current quarter. Nike blamed softness in China and uneven global consumer trends. Analysts cut price targets and their stock ratings. Goldman Sachs, however, kept its buy rating. Was this report worse than Club name Starbucks ‘ quarter? If you think Donald Trump is more likely to return to the White House after President Joe Biden’s performance in Thursday night’s debate, I think a second Trump administration would be pro-merger, anti-China, pro-energy, and anti-Mexico. I’m not pro-Trump. I’m not pro-Biden. I want to help people make money. Huge number of price target cuts on Wall Street for Walgreens Boots Alliance , which on Thursday cut profit guidance in what the drugstore chain called a challenging consumer environment. The Dow stock dropped another 1.5% following its 22% post-earnings plunge. Barclays cut its General Mills price target to $67 per share from $72 but kept its hold-equivalent rating. The analysts cited weaker industry trends after the consumer and pet food company reported mixed quarterly results after Wednesday’s closing bell. The company’s outlook was softer than expected due to price pressures. Susquehanna started coverage of our new name Nextracker with a positive rating and a $59-per-share price target. We initiated a Club position in the renewable energy company at our June Monthly Meeting on Thursday afternoon. During the Meeting, I also explained how to use a concept from my hedge fund days to evaluate whether your stocks are working or not working. We also put together a rapid-fire update on all 33 stocks in our Club portfolio, including a few stocks to buy right now . Oppenheimer raised its Apple price target to $250 per share from $200 and kept its buy-equivalent rating. The analysts said the Club name will be the AI experience leader for the consumer. Meanwhile, Apple’s mixed reality Vision Pro headset went on sale in China, Japan and Singapore. 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 Friday, June 28
The S&P 500 and Nasdaq are on track for their fourth-straight session of gains Friday after the Federal Reserve’s preferred inflation gauge showed that inflation cooled in May. Entering the final trading day of the second quarter, the S&P 500 has climbed 15% year to date while the tech-heavy Nasdaq has advanced 19%. The laggard Dow is up just 3.8%.
The core PCE index in May rose 2.6% year over year, matching Wall Street estimates and representing the lowest annual increase since March 2021. In April, the inflation measure rose 2.8% annually.
The CME FedWatch tool still indicates that the market expects the Fed to make its first rate cut during this inflation-fighting campaign in September. The Fed’s post-June meeting projections were for one cut by the end of the year.
Nike disaster. What is going on here? The Dow stock sank more than 15% after the company missed on quarterly revenue and forecast a much larger than expected sales decline of 10% during its current quarter. Nike blamed softness in China and uneven global consumer trends. Analysts cut price targets and their stock ratings. Goldman Sachs, however, kept its buy rating. Was this report worse than Club name Starbucks‘ quarter?
If you think Donald Trump is more likely to return to the White House after President Joe Biden’s performance in Thursday night’s debate, I think a second Trump administration would be pro-merger, anti-China, pro-energy, and anti-Mexico. I’m not pro-Trump. I’m not pro-Biden. I want to help people make money.
Huge number of price target cuts on Wall Street for Walgreens Boots Alliance, which on Thursday cut profit guidance in what the drugstore chain called a challenging consumer environment. The Dow stock dropped another 1.5% following its 22% post-earnings plunge.
Barclays cut its General Mills price target to $67 per share from $72 but kept its hold-equivalent rating. The analysts cited weaker industry trends after the consumer and pet food company reported mixed quarterly results after Wednesday’s closing bell. The company’s outlook was softer than expected due to price pressures.
Susquehanna started coverage of our new name Nextracker with a positive rating and a $59-per-share price target. We initiated a Club position in the renewable energy company at our June Monthly Meeting on Thursday afternoon.
During the Meeting, I also explained how to use a concept from my hedge fund days to evaluate whether your stocks are working or not working. We also put together a rapid-fire update on all 33 stocks in our Club portfolio, including a few stocks to buy right now.
Oppenheimer raised its Apple price target to $250 per share from $200 and kept its buy-equivalent rating. The analysts said the Club name will be the AI experience leader for the consumer. Meanwhile, Apple’s mixed reality Vision Pro headset went on sale in China, Japan and Singapore.
(See here for a full list of the stocks at Jim Cramer’s Charitable Trust.)
What Investing Club members are reading right now
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.
