Jim Cramer's top 10 things to watch in the stock market Wednesday: Fed, banking crisis, GameStop
The stock market is set to have a calm day with little movement.
Fed meeting: Is it really important? The market is almost 90% certain that Wednesday's quarter-point increase in interest rates will be achieved despite the bank crisis. Investors will be looking for forward-looking commentary from the Fed Chairman Jerome Powell's postmeeting news conference. The Dow, S&P 500, and Nasdaq will be open for a muted opening.
First Republic Bank (FRC), guessing game: Why does it require so many bankers Lazard and JPMorgan (JPM), advising What amount of aid should the government give these people? Huntington Bancshares' (HBAN) has the highest ratio of insurance to deposits, so there are virtually no outflows. Is it the best in super regionals? CEO of Mad Money predicts that net interest margin (NIM), will remain unchanged, and believes business is strong.
GameStop shares rose 50% Wednesday morning, after the retailer reported a quarter-quarter profit. This was due to expense cuts. Because not enough analysts are familiar with meme-stock, results may not be comparable to estimates.
Nvidia (NVDA), Microsoft-backed OpenAI, and Nvidia have been working together for seven years on a chatbot. But it just started to catch on. The depth of our knowledge is only beginning to be understood. The industrial uses, medical uses, auto uses, educational uses, and call center uses are all front and center. Multiple price targets for Club stock.
Meta Platforms (META: KeyBanc is seeing improvements in CPM (cost-per-thousand) ad impressions. This must indicate that it has found a way to circumvent Apple's (AAPL), privacy rules. Club holding Meta is experiencing huge cost savings, which could signal a significant turn. KeyBanc upgrades to hold overnight starting at sector weight (buy from Hold).
Citi reduces Club Holding Halliburton's (HAL) price target from $47 to $44 per Share, but believes that the economic recovery will not cause a slowdown in energy investment. We bought additional shares of Halliburton (HAL) on Friday and raised the stock to our 1 rating.
Barclays believes it is time to purchase Dow stock Nike (NKE), because of China's resurgence. Price target raised to $154 per Share from $100 Although this is a contrary view, it is likely to be correct. Nike beats earnings and revenue estimates by a wide margin after the bell Tuesday. Guidance for full-year revenue has been improved.
Rivian Automotive (RIVN), now trading below its cash value. Morgan Stanley analysts believe that electric vehicle startups are becoming more interesting.
Krispy Kreme (DNUT), upgraded to buy at Truist. Name of the household. International tailwinds From $15, Truist analysts raise price target to $20 per Share
Jim Cramer's Charitable Trust has long NVDA and MSFT, META. AAPL, HAL. For a complete list of stocks, please see here.
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