Jim Cramer's top 10 things to watch in the stock market Thursday

Jim Cramer’s top 10 things to watch in the stock market Thursday

Admin September 19, 2024

My top 10 things to watch Thursday, Sept. 19 1. Wall Street is set to open sharply higher Thursday, with the Nasdaq looking especially strong. Perhaps the strength is a delayed reaction to the Federal Reserve cutting interest rates by a half percentage point on Wednesday. Stocks fluctuated after the central bank’s announcement and ended the session lower. 2. Bank of America raised price targets on the homebuilders, including Toll Brothers , Pulte , KB Home , and Lennar . The analysts cited the benefits of lower borrowing costs. BofA kept buy ratings on Toll and Pulte and maintained neutral ratings on KB Home and Lennar. 3. T-Mobile CEO Mike Sievert told me that preorder sales of the iPhone 16 are pacing ahead of last year’s model. On “Mad Money” Wednesday, Sievert said that early surveys that there is less demand than expected for the new models were way out of whack with that he is seeing. The AI-ready iPhone 16 from Club name Apple will be in stores Friday. 4. JPMorgan raised its T-Mobile price target to $230 per share from $220 and kept its overweight buy rating. The analysts cited accelerating sales. Oppenheimer bumped up its PT to $215 and kept its buy. The analysts who attended T-Mobile’s investor day became more positive on the stock. 5. Lisa Su, CEO of Club name Advanced Micro Devices , told me Wednesday on “Mad Money” that there is so much demand right now for all of her company’s chips, especially the AI ones. Su said she sees years and years of upgrades and more and more powerful chips needed. 6. KeyBanc said that Agentforce is something that Club name Salesforce will spend a lot of money on and it will pay off. The analysts described it as a whole new way to accept AI. Barclays said Agentforce will be huge, too. Remember, Salesforce has all the data. 7. Stifel cut its Micron price target to $135 per share from $165 but kept its buy rating. TD Cowen, which also maintained a buy, cut its PT even lower to $115. Those levels are still much higher than the stock’s Wednesday close price of just over $87. The analysts expect next week’s earnings to be underwhelming. 8. Evercore ISI removed CrowdStrike from its Tactical Underperform list. The analysts maintained their buy rating and a price target of $325. They said long-term investors can be opportunistic. We own rival cybersecurity company Palo Alto Networks . 9. Bernstein trimmed its Nike price target to $109 per share from $112 and kept its outperform buy rating. The analysts cited concerns they heard from former Nike executives. On and Adidas, New Balance, even Asics and Decker Outdoor ‘s Hoka and VF Corp ‘s Vans are taking share. 10. JPMorgan raised its Carmax price target to $65 per share from $55 but kept its underweight sell rating. The new PT level is still below where shares closed Wednesday at $77. The analysts talked about better fundamentals but still felt the risk-reward ratio on the stock is unattractive due to stretched multiples. 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.

Mike Sievert, CEO of T-Mobile, speaks during an interview with CNBC on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., April 27, 2022.

Brendan Mcdermid | Reuters

My top 10 things to watch Thursday, Sept. 19

1. Wall Street is set to open sharply higher Thursday, with the Nasdaq looking especially strong. Perhaps the strength is a delayed reaction to the Federal Reserve cutting interest rates by a half percentage point on Wednesday. Stocks fluctuated after the central bank’s announcement and ended the session lower.

2. Bank of America raised price targets on the homebuilders, including Toll Brothers, Pulte, KB Home, and Lennar. The analysts cited the benefits of lower borrowing costs. BofA kept buy ratings on Toll and Pulte and maintained neutral ratings on KB Home and Lennar.

3. T-Mobile CEO Mike Sievert told me that preorder sales of the iPhone 16 are pacing ahead of last year’s model. On “Mad Money” Wednesday, Sievert said that early surveys that there is less demand than expected for the new models were way out of whack with that he is seeing. The AI-ready iPhone 16 from Club name Apple will be in stores Friday.