Jim Cramer’s top 10 things to watch in the stock market Thursday
My top 10 things to watch Thursday, June 26 1. Wall Street was heading for a higher open after the S & P 500 dipped slightly yesterday but remained less than 1% off its February record close of 6,144. The Nasdaq rose yesterday and was just over 1% off its December record close of 20,173. 2. The market’s run higher has come despite global turmoil in the form or wars in the Mideast and Ukraine, looming tariff deadlines, and questions about when the Federal Reserve might cut interest rates. Fed Chairman Jerome Powell, who just finished two days of economic testimony on Capitol Hill, wants to continue to wait. 3. U.S. oil prices broke a three-session losing streak yesterday and were modestly higher this morning. WTI crude has lost 12% this week despite the Iran-Israel conflict, and America’s weekend bombing of three Iranian nuclear sites. 4. Micron last night reported a much better than expected quarter on both earnings and revenue. It isn’t only Micron’s high bandwidth memory business, which is needed for data center artificial intelligence chips, that’s doing well. The stock rose nearly 3% this morning. 5. Club name Nvidia , now the most valuable U.S. company again, rose this morning after closing yesterday at a record high. At the company’s annual shareholders meeting, CEO Jensen Huang said robotics is the biggest opportunity for Nvidia aside from AI. 6. Morgan Stanley increased its price target on Club stock Microsoft to $530 a share from $482, representing 7.7% upside from yesterday’s close. The analysts called Microsoft a prime AI play, citing acceleration in its Azure cloud business. Morgan Stanley reiterated its overweight buy rating. 7. JPMorgan raised its price target on Club name Capital One to $210 from $183 — not much of a premium to yesterday’s $208 close. The analysts, which kept their neutral rating, called Capital One’s acquisition of Discover Financial “well justified.” 8. Barclays bumped up its price target on Club name Starbucks to $108 from $98, implying more than 18% upside to yesterday’s close. The analysts, who maintained their overweight rating, said that in relationship to peers, “SBUX is the most challenged though well understood.” 9. Goldman Sachs started coverage of Dutch Bros with a neutral rating and a price target of $75. The coffee drive-thru chain stock closed at $68 yesterday. Shares of Dutch Bros, which is way smaller than Starbucks, has gained 30% year to date. Starbucks has been flat in 2025. 10. JPMorgan lowered its Constellation Brands price target to $170 from $194. The analysts, who kept their neutral rating, reduced their estimates ahead of the Corona and Modelo beer maker’s upcoming earnings. Is a really bad quarter coming? 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.
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