My Top 10 Things to Watch Wednesday, January 7th 1. Stocks were little changed this morning after the S&P 500 hit a new high. The index rose yesterday as Wall Street eased concerns about the US operation in Venezuela over the weekend. Meanwhile, U.S. companies added 41,000 jobs in December, slightly less than expected, reversing a loss of 29,000 in November, according to the latest ADP data. 2. Alaska Airlines announced a major plan to purchase Boeing jets. The order includes 105 uncertified 737 Max 10s. Boeing is one of my favorite club stocks. 3. Oil prices fell after CNBC reported that sales of Venezuelan crude oil would continue indefinitely. President Donald Trump announced last night that Venezuela would deliver between 30 million and 50 million barrels of sanctioned oil and sell it at market price. But this is only the first part of the sale. A source close to the White House also told CNBC’s Brian Sullivan that sanctions would be scaled back. Valero Energy and Phillips 66 rose more than 4% and 3%, respectively. 4. Oppenheimer sees an opportunity for a breakthrough in 2026 for struggling restaurant groups, including Texas Roadhouse. Analysts raised their price target to $185 from $170 and left their investment decisions unchanged. Meanwhile, Barclays raised its price target on Starbucks from $95 to $110 and maintained an affirmative rating on the stock. This is good news for both club names, whose stock prices have been depressed. 5. Piper Sandler downgraded Decker Outdoors from hold to sell after the stock has rebounded more than 30% since early November. Analysts lowered their price target for the owner of Hoka and the UGG brand from $100 to $85. They are worried that Decker is leaning toward promotion. We own Nike and our competitors Hoka, New Balance and On have to step up. I believe in Nike CEO Elliot Hill’s turnaround plan. 6. Canaccord raised the target price on Club Holding Alphabet from $330 to $390 and maintained the buy rating. Analysts cited the rapid expansion of Gemini’s AI model, which is driving search traffic, as the basis for their confidence in the stock. Cannacord also highlighted the company’s investments in cost-effective specialty chips that support the growth of its cloud business. Analysts are cautious about the stock’s 78% rise in the past six months, but say Alphabet’s long-term prospects remain strong. 7. UBS underwrites coverage of Eli Lilly and raises buy and price target from $1,080 to $1,250. Analysts noted that the company continues to demonstrate leadership in obesity drugs. UBS issued a similar rating for peer Vertex Pharmaceuticals. Meanwhile, Amgen will be upgraded to a buy-from-buy status of the company. Amgen always plays a big role at the JPMorgan Healthcare Conference, which I will be attending next Monday and Tuesday. 8. There’s a lot of calling out to home builders on Wall Street. Renner was downgraded from buy to hold on Citizens. Analysts have not set a price target, but note that the company has at least two more quarters of inventory to clear, which could weigh on gross margins, sales and profits. Meanwhile, Barclays upgraded Lowe’s shares from hold to buy, with a price target of $285. Lowering interest rates is a good decision. For clubs, we own our peer Home Depot. 9. Barclays has lowered its price target for Eaton from $362 to $350 as part of its multi-industry outlook. Analysts affirmed the rating, but said the demand outlook remains “solid” amid strong AI orders. Barclays raised the PT of the club’s GE Vernova from $800 to $830, and Dover’s PT from $195 to $205. Wells Fargo still hates Honeywell, just like everyone else. Analysts kept their ratings unchanged but lowered their price target from $218 to $215, citing overwhelmingly low expectations for industrial stocks at the beginning of the year. 10. Four major banks suffer from Wolf Research downgrade. JPMorgan, Bank of America, US Bancorp, and M&T Bank were all changed from buy to hold. Analysts expect the group’s performance to be “less optimistic” in 2026 after the money center name rose 40% last year. As for clubs, we own Wells Fargo and Goldman Sachs. I have always said that we are entering a new era for banks, with high price-to-earnings ratios similar to those seen in the early 2000s. Some action may need to be taken against Goldman’s stock. 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. 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