My top 10 things to watch Friday, June 6 1. The May jobs report came in better than expected, up 139,000 versus the Dow Jones estimate of 125,000. The unemployment rate stayed at 4.2%, too. Stock futures picked up steam after the report. The market was on edge after Wednesday’s weak ADP payroll number. 2. President Donald Trump and Elon Musk got into a huge spat on social media. Need a truce here. It’s bad for the market to have these two fighting. Tesla stock is up this morning after tumbling 14% yesterday as the war of words escalated. 3. Goldman Sachs cut its price target on Tesla shares by $10 to $285 after lowering its expectations for vehicle deliveries and earnings. Delivery trends in Europe, U.S. and China are weak. However, the analysts said consumer brand perception is stronger in China than those other two markets. 4. Great quarter last night from Club holding Broadcom , even though the red-hot stock is lower this morning. Multiple price target hikes: Bank of America went to $300 a share from $240. Melius went to $305 from $283. We upped our PT for the Club, too. 5. Bernstein took Club name CrowdStrike to hold from buy, saying it’s too expensive. That’s a lousy reason to downgrade because it often turns out that high-quality stocks are cheap in hindsight. The firm likes Palo Alto Networks more in cyber. We also own that one. 6. Really disappointing numbers from Lululemon , sending shares down over 20% this morning. Tariff effects at play. Evercore is arguing the pullback is an overreaction, though, considering the apparel maker only trimmed its full-year EPS guide by roughly 2%. 7. Jefferies upgraded Urban Outfitters to hold from sell. Should never have been that negative to begin with. The retailer, which also owns the Anthropologie and Free People brands, showed in earnings last month that it’s firing on all cylinders. 8. Loop Capital is worried about the reception to McDonald’s new chicken strips and argued that same-store sales growth for the rest of the year may not rebound as much as hoped. The firm went to a hold rating from buy. Hard name to downgrade because getting back in at the right time has proven difficult. 9. A round of price target cuts for Brown-Forman after shares were crushed yesterday on weak earnings. Barclays went to $31 a share from $38, but kept its overweight buy rating? JPMorgan went to $28 from $34 and said the case that its problems are structural, not cyclical, got stronger. 10. UBS upped its price target on Club name Texas Roadhouse to $220 a share from $200 after a meeting with executives underscored their confidence in traffic returning to growth. Elsewhere in restaurants, KeyBanc said Darden’s same-store sales growth is accelerating and lifted its PT by $10 to $230 a share. 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.
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