My top 10 things to watch Monday, July 7 1. We’re tracking for a slightly lower open this morning, as tariffs and trade deals are once again front and center. The S & P 500 and Nasdaq enter the week at record highs. It’s a quiet week of economic and corporate releases. 2. Treasury Secretary Scott Bessent said on CNBC this morning that several trade announcements are expected over the next two days. Investors have been keyed in on the July 9 tariff deadline. However, over the weekend, Bessent said Aug. 1 is when “reciprocal” tariff rates would go back into effect if countries weren’t progressing in negotiations. 3. Tesla shares dropped 6% in premarket trading after CEO Elon Musk said he’s planning to create a new political party called the “America Party.” Musk’s political activities this year have hurt the stock. 4. Club chipmakers Nvidia and Broadcom scored price-target bumps at Citi. The firm went to $190 a share from $180 on Nvidia, partially citing stronger-than-expected sovereign AI demand. It went to $315 from $285 on Broadcom on a higher target price-to-earnings multiple. 5. Melius Research raised its IBM price target to $350 from $287 and maintained its buy rating. The analysts love IBM and think its run can continue. They see “relative value in ‘Infrastructure Software’ and Mainframe.” 6. Piper Sandler downgraded Club name CrowdStrike to neutral from an overweight buy rating but kept its price target at $505. The analysts don’t see much near-term upside, noting its 60% surge over the past three months. 7. UBS initiated GE Vernova with a buy rating and a $614 price target. This is another Club name that been unstoppable lately, up 80% over the past three months. The company is getting lots of business to meet growing electricity demand. 8. Jefferies upgraded Corona and Modelo brewer Constellation Brands to buy from hold and bumped up its price target to $205 from $194. The analysts think beer-drinking will come back. They call the stock “too cheap.” 9. UBS slightly lowered its price targets on United and Delta Air Lines but kept its buy ratings. The analysts raised its Southwest price target and maintained a neutral. UBS expects in-line earnings from the airlines. 10. Citi raised its Robinhood price target to $100 from $50 and kept its neutral rating. The analysts increased their Schwab PT by $3 to $105, calling the stock its sector favorite. Lots of market forces lining up favorably for the broker group. 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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