My top 10 things to watch Wednesday, July 16 1. Wall Street was pacing for a higher open this morning. Wholesale inflation came in cooler than expected, with the June producer price index showing no change from the prior month. That’s in contrast to yesterday’s consumer price index, which picked up month over month. 2. Bank earnings continued this morning, with Goldman Sachs leading the way. The Club name beat estimates on second-quarter earnings and revenue. Tariff-roiled markets led to big trading revenue, and more dealmaking led to strong investment banking fees. The stock rose 1% following this morning’s print. 3. Bank of America raised its price target on Club name BlackRock to $1,224 per share from $1,214 following yesterday’s earnings. Others lowered their PTs on BlackRock, including Wells Fargo down to $1,170. The common theme, though, is analysts were bullish on the future and kept their buy-equivalent ratings. The stock was steady this morning after yesterday’s big drop. We are also bullish, raising our price target to $1,200. 4. TD Cowen lowered its price target on Club name Wells Fargo by $1 to $82 and maintained its hold rating. The analysts put an asterisk by yesterday’s quarterly earnings and revenue beat because Wells Fargo missed on net interest income and guided NII lower. The stock, while stable this morning, took a big hit yesterday. But we viewed it as a buy opportunity and raised the stock to our 1 rating . 5. President Donald Trump told reporters yesterday that drug tariffs are likely coming as early as the end of July. Danish drugmaker Novo Nordisk should be significantly impacted by levies. As for Club name Eli Lilly , the other GLP-1 juggernaut, no so much. I think this could be another edge for Lilly. 6. Trump also talked about semiconductor tariffs on the horizon, calling them “less complicated” without further explaining himself. Wherever industry-specific and country-specific tariffs end up, Nvidia CEO Jensen Huang has downplayed their impact and said more chip manufacturing in the U.S. would be a good thing. 7. Canaccord raised its price target on Club name Meta Platforms to $850 from $825 and kept its buy rating. The analysts said Meta continues to be their top digital advertising pick. They are bullish on the company’s growth prospects. 8. UBS lifted its price target on Club name Disney to $138 from $120 on a belief that its upcoming quarterly results will show resilient theme park demand and further improvement in streaming profitability. Analysts kept their buy rating. 9. Melius Research analyst Ben Reitzes said that operating expenses at artificial intelligence leaders, including Club names Amazon and Microsoft , are going down as a percentage of sales. “It ain’t bullish for jobs, but it’s bullish for stocks,” he wrote in a note to clients. 10. JPMorgan raised its Boeing price target to $230 from $200 and maintained its overweight buy rating. But really that’s only where the stock closed yesterday. The analysts updated their models, noting strong deliveries should support second-quarter numbers. We put Boeing into our Bullpen stock watchlist in April. Sign up for my Top 10 Morning Thoughts on the Market email newsletter for free Correction: This story has been updated to reflect that Novo Nordisk is a Danish drugmaker. (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 Wednesday
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