My top 10 things to watch Tuesday, May 13 1. Wall Street is tracking for a flat open this morning after a light inflation report and yesterday’s explosive rally on U.S.-China tariff relief. My trusted momentum indicator, the S & P Oscillator , is still below 6, which means it’s overbought but the dangerous area has not yet been hit. 2. Boeing is a big winner in the China fracas. That’s another reason to own the planemaker, which we have in our Bullpen watchlist for the Investing Club. Aerospace also is, by far, the biggest part of Club name Honeywell . Eaton , another portfolio stock, has sizable exposure too. Both can be bought. 3. On Holding reported excellent first-quarter numbers and slightly increased its full-year sales outlook while incorporating more uncertainty into its profit guidance. Shares jumped 5%. This is a heavily shorted stock, but the shoemaker is taking big share from Nike . 4. Big call: Baird upgraded Caterpillar to buy from hold, with analysts saying its backlog is big and dealer inventory is light. It seems like you would never buy this stock into a recession, but if there isn’t one, it could be excellent. 5. Stephen Hemsley is back as CEO of UnitedHealth Group , replacing Andrew Witty, who resigned for personal reasons. The health insurance giant also suspended its annual forecast. The team misjudged the Medicare Advantage market. 6. The Trump administration is expected give Saudi Arabia access to advanced AI chips, including those made by Club name Nvidia . That’s something the Biden White House would never have allowed. This is a big deal because Nvidia needs more than the hyperscalers as customers. 7. HSBC downgraded Chevron to hold from buy and lowered its price target on already hold-rated Exxon Mobil . This is a very challenged group, though it rallied yesterday alongside oil. These work at $70 a barrel for oil, not down here in the low $60s or worse. Piper Sandler lowered its PT on Club name Coterra by $1 to $36. 8. Bank of America upped its price target on Robinhood to $65 a share from $60. The brokerage firm has captured the imagination of younger people like no other, and it’s expanding into areas like wealth management to serve clients as they age. 9. Coinbase is being added to the S & P 500 to replace Discover Financial when the latter stops trading as a result of Capital One’s acquisition closing May 18. I expect a flood of positive analyst coverage on Club name Capital One when that happens. 10. Barclays upgraded Stanley Black & Decker to an overweight buy rating from equal weight and lifted its price target to $90 a share from $69. The stock surged almost 16% yesterday to $72.53 a share on the U.S.-China news, and analysts now say the toolmaker’s worst-case earnings scenario is off the table. 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.
Caterpillar Inc. excavators are displayed for sale at the Whayne Supply Co. dealership in Louisville, Kentucky, on Jan. 27, 2020.
Luke Sharrett | Bloomberg | Getty Images
My top 10 things to watch Tuesday, May 13
