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

1. The S&P 500 and the Nasdaq are up early Monday, in another attempt to end their sharp six-session slides. Expect a bounce in the oversold market if the bond selling, which drives up yields, can abate. Short-term bond auctions this week. The 10-year Treasury yield needs to hold 4.6%. High multiple stocks are getting crushed and I looked at why in my Sunday column.
2. UBS is concerned about the Club’s Super Six megacaps due to huge rallies since January 2023 lows: Alphabet, Amazon, Apple, Meta, Microsoft and Nvidia. Shares of Nvidia bounce 1% on Monday after Friday’s 10% slide.
3. In the week ahead, six Club stock earnings: Danaher on Tuesday morning; Meta Platforms and Ford after the close Wednesday; Honeywell on Thursday morning; Microsoft and Alphabet after the bell Thursday. Also, the Fed’s favorite inflation gauge on Friday.
4. KeyBanc cuts Meta price target to $555 per share from $575. The analysts still like the Club stock heading into earnings but are cautious. Congress is working on a divest or ban TikTok bill. Also, Meta is getting billions of dollars from China companies. Can that last?
5. KeyBanc likes Google parent Alphabet and raises price target to $175 per share from $165 ahead of the earnings print. Last week, Google restructured finance team as part of artificial intelligence shift.
6. Consider buying Apple on any weakness, Wells Fargo says. I have been saying the Club stock goes to $160 per share before bottoming and I am sticking by that.
7. Club name Salesforce plays hardball with Informatica and won’t buy it and doesn’t need it. Salesforce shares up 4% on talks reportedly fizzling.
8. Barclays trims Abbott Laboratories price target by $1 per share to $140. Litigation worries keep lid on the Club stock. So wrong. So stupid.
9. Jefferies boosts Procter & Gamble price target to $182 per share from $175. The analysts say P&G has been able to profit despite volatile economic conditions. I loved the quarter and felt it showed costs no longer outrunning the dollar.
10. Tesla cuts prices for its driver-assistance software, which it calls full self-driving (FSD), to $8,000 from $12,000. Can’t compete with that. The stock declines 4%. Tesla also recalls 3,878 Cybertrucks over “trapped pedal” issue seen in an owner’s viral TikTok video.

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