My Top 10 Things to Watch Friday, September 11th 1. Stocks are still expected to start trading higher even after consumer inflation, excluding food and energy prices, is in line. The S&P 500 and Nasdaq are looking to end a four-session losing streak. Market odds on the Federal Reserve raising interest rates next week are almost certain. Bond yields are flat but still rising. Oil down. But WTI is still near $100 a barrel and Brent is at $104. 2. Is management afraid to communicate how hopeless the bond buying program is? So far it’s been bad. But in true President Donald Trump fashion, Treasury Secretary Scott Bessent declared victory during one of the worst weeks on record for bonds. Not political, just the truth. 3. Oil remains around $100. Supply issues in the Middle East. However, the real concern concerns the possibility of a breach of warship protection and the ensuing all-out war. The International Energy Agency announced that global supplies will fall by 5.7 million barrels per day in 2026, a 6% decrease from the previous year. Previous forecast: 4% decrease this year. 4. Mortgage rates are starting to squeeze housing: 30-year fixed rate loans are over 7%. Wells Fargo lowered price targets for homebuilders Lennar, DR Horton, Toll Brothers and Pulte Group. Architectural products company Masco. Tool manufacturer Stanley Black & Decker; and major home appliance manufacturer Whirlpool. Our involvement in housing: Home Depot. Depending on the rate, that’s going in the wrong direction. I am happy to have been able to move down this ranking. All portfolio stocks were updated at yesterday’s September monthly meeting. 5. Luxury home furnishings retailer RH reported better-than-expected quarterly profits, profits and sales. The outlook wasn’t that strong, but the stock rose 4.5% anyway. Investors are more focused on the huge profit beat. This is a company formerly known as Restoration Hardware. 6. Oracle shares are up about 7.5% as the company’s AI cloud numbers far exceed expectations. No additional capital is required for new contracts. You’ll worry less about debt. The outlook for 2027 was quite modest. Despite this morning’s gains, the stock is still down about 16% since the beginning of the year. 7. I think the analysts who are negative about Adobe are wrong about this. Yes, business is slowing down, but it’s not negative. Something could be bought to bring the shine back with a new CEO. The number of monthly users reaches 1 billion. AI-first annual recurring revenue (ARR) grew by 150%. Revenue and EPS exceeded expectations. Stock prices are down 3%. 8. Microsoft plans to triple its data center capacity to 38 gigawatts by 2032. Great news for fellow club stock GE Vernova. This is the best way to meet this computing need. GEV manufactures natural gas turbines that generate off-grid power for these facilities. Meanwhile, OpenAI is considering reducing capacity. 9. RBC analysts said Dell’s “demand for AI infrastructure is driving accelerated growth.” They began their coverage of enterprise server manufacturers with acquisitions. The stock’s price target of $640 suggests an upside of 25% from levels that are already up more than 300% since the beginning of the year. Demand for agent AI. 10. Goldman Sachs reiterated its intention to acquire Nvidia with a price target of $300 per share. Will anything go wrong here until Nvidia announces a $5 trillion share buyback? I’ve encouraged management to implement an Apple-style stock repurchase plan, canceling approximately $877 billion worth of stock during Tim Cook’s 15 years as CEO. Sign up for free for my Top 10 Morning Thoughts on the Markets email newsletter (See here for a complete list of Jim Cramer Charitable Trust stocks.) As a subscriber to Jim Cramer’s CNBC Investment Club, you’ll receive trade alerts before Jim makes a trade. After Jim sends a trade alert, he waits 45 minutes before buying or selling stocks in the charitable trust’s portfolio. If Jim talks about a stock on CNBC TV, he will issue a trade alert and then wait 72 hours before executing the trade. The above investment club information is subject to our Terms of Use and Privacy Policy, along with our disclaimer. No fiduciary duties or obligations exist or arise from your receipt of information provided in connection with the Investment Club. No specific results or benefits are guaranteed.
