My top 10 things to watch Tuesday, June 24 1. Is there an Israel-Iran ceasefire or not? President Donald Trump announced an agreement to end the conflict, but hours later, Israel accused Tehran of violating it. Trump said Israel will not go through with a retaliatory strike on Iran, and that the truce is still in effect. 2. Oil prices were down more than 3%, extending yesterday’s steep slide, despite all the ceasefire confusion. U.S. oil benchmark WTI was still up over 7% for the month. Oil has been a barometer for measuring the risk of the Israel-Iran conflict. 3. Wall Street is on track for a sharply higher open this morning. Gold, the ultimate safe-haven asset, is down almost 2%. I’ll try to make sense of this moment tomorrow at our Monthly Meeting for Investing Club subscribers. Starts at noon ET. 4. Amgen shares were flat this morning after dropping nearly 6% yesterday on the full midstage trial data for its weight-loss drug MariTide. The monthly injection was poorly tolerated, but the ongoing phase 3 study is designed to improve side effects. Enough is enough? We own obesity drug leader Eli Lilly for the Club. 5. Goldman Sachs downgraded Dollar General to a hold-equivalent rating from buy on valuation concerns after such a big run for the stock. Agreed. I much prefer Club name TJX Companies , which has drifted lower lately. 6. Huge price target hike for GE Vernova at Morgan Stanley, which went to $511 a share from $422 and maintained its overweight buy rating. Kind of a catch up call and not much of a premium as shares closed yesterday just under $500 each. Despite the stock’s recent outperformance, analysts believe the risk-reward for the Club name is attractive. Still the best AI data center play? 7. KB Home hit with a few price target reductions after earnings last night. Macro weakness really hurt the homebuilder, and mortgage rates are too high. That’s one area where Trump’s calls for rate cuts make sense. 8. Citigroup added Pinterest and Reddit to their list of short-term upside opportunities. I agree with those calls and think that both sites are great places to advertise. So is Club name Meta Platforms . Citi also raised numbers for Alphabet , but that stock has really performed poorly. 9. Wells Fargo said buy Visa and Mastercard on their recent weakness tied to concerns that stablecoins could threaten the traditional payments ecosystem. Mizuho also said the fears are overblown. 10. Goldman Sachs downgraded luxury furniture retailer RH to a sell rating from neutral and lowered its price target by $20 to $179. With the weak housing market, analysts worry that the company formerly known as Restoration Hardware will face difficult year-over-year comparisons and have some concerns on execution. 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 Tuesday
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