Jim Cramer’s top 10 things to watch in the stock market Monday
My top 10 things to watch Monday, March 16 1. President Donald Trump vowed to reopen the Strait of Hormuz with a coalition of countries. No luck yet, though U.S. oil prices drifted back below $100 a barrel this morning. That’s helping stock futures rally. But the longer the Strait is closed, the more we’re going to see some of the lost supply made up by other continents. Perhaps more drilling in the U.S.? 2. Nvidia’s annual GTC conference kicks off today. I’m on the ground in San Jose, California, for it. CEO Jensen Huang’s influential keynote starts at 2 p.m. ET. We’re expecting new details on Club name Nvidia’s product roadmap, possibly including its plans for technology licensed from chip startup Groq . 3. I devoted this week’s Sunday column for Investing Club subscribers to the difficult-to-understand tale of private equity and private credit. Besides the war in Iran and the blockade of the Strait of Hormuz, this is the next-biggest problem the market is fixated on. 4. Club holding Meta Platforms inked a five-year deal with Nebius , a neocloud company, for AI computing capacity that could be worth up to $27 billion. As part of the pact, Nebius said Meta will use Nvidia’s next-generation Vera Rubin platform once it’s available later this year. Nvidia last week agreed to invest $2 billion in Nebius. Nebius shares are flying this morning, up 14%. 5. More on Meta: The Instagram parent’s reported plans of a potential 20% headcount reduction to balance AI spending would save the company between $5 and $6 billion, JPMorgan estimated. While it wouldn’t make that big of a dent in Meta’s expenses this year, analysts said its earnings next year would see a lift. I told Club members on Friday that I wouldn’t be shocked to see Meta make a drastic move like this. 6. Jefferies reinstated coverage of Club name Eaton with a buy rating following its completed acquisition of Boyd Thermal . We’ve been big fans of this deal because it gives Eaton, an electrical equipment supplier, more exposure to the AI buildout in a new business line, liquid cooling. 7. Micron said it’s planning to build a new manufacturing facility for leading-edge DRAM products in Taiwan. The AI boom has created a major supply crunch for memory chips, sending prices soaring. More supply is desperately needed. The planned fab will be on the same site as a plant that Micron just acquired from a local manufacturer . 8 . A bunch of price target cuts for Lennar after the homebuilder reported a weaker quarter Thursday night. New orders were light both in the quarter and in the guide. Wells Fargo went to $100 from $105 and kept its hold rating. BTIG went to $77 from $90, reiterating its sell. The housing market punches above its weight for the U.S. economy, but it remains stuck. 9. Jefferies raised its price target on Coca-Cola to $90 from $87 and maintained its buy rating. Analysts are upbeat on Fairlife, Coke’s line of lactose-free milk and protein shakes, as consumers choose healthier, more cost-effective diets. Coke and Pepsi shares keep marching higher, up over 10% and 11%, respectively, year to date. 10. Mondelez is the consumer packaged stock to buy, according to Morgan Stanley, raising the Oreo maker’s price target to $70 from $66. Analysts said the market is underestimating the boost in Mondelez’s profits from the normalization of cocoa prices, which had spiked due to supply disruptions in West Africa. Similarly, Morgan Stanley lifted its PT on Hershey to $247 from $238. 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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