My top 10 things to watch Monday, June 2 1. China accused the U.S. of seriously undermining the preliminary trade deal reached in Switzerland last month, a few days after President Donald Trump made similar claims about Beijing and said he would no longer be “Mr. NICE GUY!” 2. When will this get better? Trump and Chinese President Xi Jinping didn’t talk over the weekend, though Trump administration officials said on the Sunday talk shows that the two leaders could talk as soon as this week. 3. Trump also said late Friday that he planned to double tariff rates on steel and aluminum to 50%, effective Wednesday. The European Union criticized the move . Big moves in domestic steel stocks this morning, with Nucor up more than 10%. 4. This flare-up in tensions with China and the EU is weighing on Wall Street this morning. As I wrote yesterday in my weekly column for Investing Club subscribers , the “Trump discount” is hurting the stock market in many ways. I ran through 10 of them in the piece. 5. Bank of America upgraded Boeing to a buy from neutral. This is a great call because CEO Kelly Ortberg’s roadmap is coming to fruition and pledging to buy Boeing planes remains a favored trade tool. The second-half of the year will be a good time to own this stock. 6. KeyBanc is the latest to argue UnitedHealth shares overshot to the downside, but still took its price target down $50 to $400. We’re starting to hear that the worst is over. I agree with the view that if the Justice Department hasn’t filed criminal charges by now, it might not. 7. Bank of America is excited by Club name Amazon’s early robotics efforts across its logistics networking, saying that the e-commerce giant should be able to drive material cost savings and increase order accuracy. Analysts upped their PT to $248 a share from $230 and kept their buy rating. 8. JPMorgan’s Matt Boss doubled down on TJX Companies , which has curiously fallen 6% since the day before its earnings report on May 21. Meanwhile, Goldman removed rival Burlington Stores from its conviction list. I say just buy TJX, which we own for the Club. 9. Among the stocks added to Goldman’s conviction: Club name Capital One . The credit card issuer’s combination with Discover is fantastic and should fuel earnings growth, and yet no one is paying attention to it. 10. Wells Fargo jacked up its price target on CrowdStrike to $550 a share from $430 ahead of the cybersecurity provider’s earnings report tomorrow night. CrowdStrike and Broadcom on Thursday are the two Club holdings reporting this week. A flurry of jobs data is the other big thing to watch this week . 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.
Jim Cramer’s top 10 things to watch in the stock market Monday
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