My Top 10 Things to Watch Thursday, Aug. 27:
1. Market Dynamics: Questions loom about whether tech stocks can rise as interest rates fall. Monday saw a tech dip dragging down the Nasdaq and S&P 500, while the Dow hit a record high, indicating insufficient funds flowing into the stock market.
2. Apple CFO Transition: Apple’s CFO Luca Maestri will be succeeded by Kevan Parekh on Jan. 1, viewed as a slight negative by Wall Street. Apple terms it a planned succession; Maestri will continue leading IT, security, and real estate teams.
3. Eli Lilly’s New Zepbound: Eli Lilly introduces a cheaper, vial-based version of its GLP-1 weight loss drug to boost demand. This form requires a syringe and needle, unlike the easy-to-use injection pens.
4. Nvidia Price Target: Truist increased Nvidia’s price target to $145 from $140, maintaining a buy rating. Analysts dismiss concerns about delays in Nvidia’s next-gen Blackwell chip as “supply chain noise.”
5. Salesforce Earnings Outlook: Barclays predicts a muted response to Salesforce’s earnings, citing a lack of positive catalysts. ServiceNow appears to be the favored enterprise software name, driven by its AI integration.
6. PDD and JD.com: PDD’s 29% drop is a stark reminder for Chinese stocks, alongside JD.com’s $5 billion buyback following Walmart’s stake sell-off in the e-retailer.
7. Netflix Price Target: Evercore ISI raises Netflix’s price target to $750 from $710, citing strong competitive positioning, backed by U.S. and Mexican market surveys.
8. Coterra Energy Upgrade: MKM upgrades Coterra Energy from hold to buy and raises its price target to $29 from $25, highlighting a robust balance sheet.
9. Brent Crude Forecast Cut: Goldman Sachs cuts its 2025 Brent crude forecast to $77 per barrel from $82, expecting increased U.S. supply. Both Brent and WTI crude prices saw modest declines.
10. Natural Gas Prices: Natural gas fell below $2 per million BTUs due to reduced demand and oversupply concerns, down nearly 6% in August after a significant drop in July.
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Original Story https://www.cnbc.com/2024/08/27/jim-cramers-top-10-things-to-watch-in-the-stock-market-tuesday.html
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