My top 10 things to watch Thursday, March 27 1. President Donald Trump’s 25% tariffs on automobiles made outside the U.S. are rippling through markets. General Motors is among the biggest losers, and shares are down 6% this morning. Crosstown rival Ford Motor “relatively benefits” since it imports fewer models, Bank of America wrote. 2. European stocks, particularly in the auto sector, were under pressure today. The likes of Mercedes-Benz and BMW were down sharply. Outside of defense, some of the best stocks in Europe so far this year have been autos. I would think that has to stop now. 3. Wall Street is hanging in there this morning despite Trump’s new tariff wrinkle. The S & P 500 is on track to open relatively flat, as is the Dow. The tech-heavy Nasdaq is poised to open modestly lower. All three indexes declined yesterday, led by a 2% drop in the Nasdaq. 4. CoreWeave is starting to look like the worst of all possible worlds ahead of its IPO after just last week looking like the best of all possible worlds. It’s a heavily indebted cloud infrastructure play with close ties to the now-hated Nvidia , which we own for the Club. 5. Multiple price-target bumps for Paychex after its excellent quarter, including at Citigroup, but analysts still do not love the stock because it is a mid-single-digit grower. However, it is merging with Paycor, which has the Street has historically liked much more. 6. KeyBanc upped its price target on McDonald’s to $340 a share from $335 and reiterated its overweight buy rating. When economic slowdown concerns are mounting, research shops can never resist recommending the fast-food giant. 7. More slowdown stock moves: Barclays raised its price target on Procter & Gamble to $165 a share from $159 and kept its hold-equivalent rating. It bumped up its PT on buy-rated Coca-Cola by a dollar to $74. These are slower growers with good dividends that will do relatively well in a recession. 8. Jefferies downgraded Advanced Micro Devices to a hold from buy, arguing the chip designer has gained “limited traction” in the all-important artificial intelligence market and is still well behind Nvidia’s technology. We also own Broadcom for its custom AI chip business. 9. Knew this would happen: Dollar Tree gets a round of price-target hikes after announcing it’s selling the struggling Family Dollar chain. Loop Capital calls the sale a “game-changer” for Dollar Tree, though it kept its hold rating on the stock given executives still need to prove they can meet expectations. 10. Bank of America reinstated coverage of Roku with a buy rating and price target of $100 a share. Analysts are excited about the smart TV and streaming company’s next phase of monetization now that it’s amassed more than 90 million active accounts. 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.
A view of the main entrance of the General Motors’ pickup truck plant as workers vote to elect a new union under a labor reform that underpins a new trade deal with Canada and the United States, in Silao, Mexico February 1, 2022.Â
Sergio Maldonado | Reuters
My top 10 things to watch Thursday, March 27
1. President Donald Trump’s 25% tariffs on automobiles made outside the U.S. are rippling through markets. General Motors is among the biggest losers, and shares are down 6% this morning. Crosstown rival Ford Motor “relatively benefits” since it imports fewer models, Bank of America wrote.
2. European stocks, particularly in the auto sector, were under pressure today. The likes of Mercedes-Benz and BMW were down sharply. Outside of defense, some of the best stocks in Europe so far this year have been autos. I would think that has to stop now.
3. Wall Street is hanging in there this morning despite Trump’s new tariff wrinkle. The S&P 500 is on track to open relatively flat, as is the Dow. The tech-heavy Nasdaq is poised to open modestly lower. All three indexes declined yesterday, led by a 2% drop in the Nasdaq.
