wmaker090@gmail.com
My top 10 things to watch Wednesday, June 11 1. The U.S. and China have agreed to a trade framework after two days of talks in London. It sounds like we need something more than they do. The lack of leverage with the Chinese is ridiculous. All that trade disrupted, and it was always going to come down to rare earth minerals . 2. The May consumer price index came in cooler than expected, and that’s giving a lift to the market. We’re now tracking for a higher open. On annual basis, core CPI was up 2.8% versus 2.9% expected. 3. Club name Nvidia struck an infrastructure partnership with French AI startup Mistral, a developer of large language models. It’s part of Nvidia’s “sovereign AI” push that I believe could be very good for diversifying its revenue. Some don’t think it will amount to much. 4. Elon Musk admitted some of his posts about President Donald Trump last week went “‘too far.” Tesla shares up nearly 2% this morning. If that holds, the stock will have essentially erased all of its 14% plunge on the day the Musk-Trump feud escalated. Robotaxi networking launching June 22 in Austin, Musk also said. 5. Cisco unveiled next-generation switches built for AI. Could this be like 1998 when Cisco was the company you put together to bundle all of the networking equipment? Could it be at the fulcrum again? This is one of the cheapest of the AI stocks at roughly 16 times forward earnings. 6. Citigroup upped its price target on Microsoft to $605 a share from $540 and opened a 90-day “catalyst watch” on the Club stock. Citi argued Wall Street estimates for cloud unit Azure next fiscal year may be too low. 7. Club name GE Vernova had its price target lifted to $550 a share from $520 at Bank of America. Analysts now project U.S. electricity demand will grow 2.5% at a compound annual rate over the next decade, boosting demand for GE Vernova’s gas turbines. 8. Tons of price target reductions for J.M. Smucker after a terrible quarter that included more write-downs associated with the Hostess acquisition. One outlier: Jefferies upgraded the stock to buy from hold, saying fiscal 2026 is derisked. 9. Citi trimmed its price target on ConocoPhillips to $115 a share from $140, though analysts kept their buy rating on the name because they see a value opportunity. Oil and gas stocks remain terrible here, but pipelines aren’t bad. 10. Club name Disney’s price target was raised to $125 a share from $120 at Bernstein, which kept its outperform rating on the stock. Maybe this is the end of the roller coaster ride for the stock? Taking full control of Hulu should boost its streaming business. 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.
