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

My top 10 things to watch Thursday, Dec. 21 Wall Street bounces higher after the S & P 500 had its worst day since September. The Dow and Nasdaq worst days since October. All three stock benchmarks are tracking for weekly losses, which would end their seven-week winning streaks. But who knows the way this market is moving? Helping stocks is a further drop in bond yields. Thursday’s decline came after the government’s GDP report showed continued cooling inflation. The data supports the Fed on hold and ending its interest rate hiking cycle with case for rate cuts in 2024. Micron shares pop more than 7.5%. Quarterly beats on earnings and revenue and strong guidance. CEO Sanjay Mehrotra calls the bottom in all but the data center. That means cell phones, PCs as well as industrial and auto. Paramount Global and Warner Bros Discovery deal: To be or not to be? That Is the question. New reports saying they’re in early merger talks. Lots of speculation about Paramount’s future lately. Wedbush raises Club name Amazon price target to $210 per share from $180. Keeps buy-equivalent outperform rating. Cites robust advertising sales and potential for market share gains in online ads. Morgan Stanley upgrades Club holding Salesforce rating to overweight from equal weight (buy from hold) and boosts price target to $350 per share from $290. The analysts see 2024 generative artificial intelligence ramp. Low investor expectations versus top-line upside. Truist raises Costco price target to $725 per share from $619. Keeps buy rating. The analysts say if Fed rate hiking over investors will seek about consumer stocks with strong growth potential. JPMorgan says Club name and Mexican beer powerhouse Constellation Brands well-positioned for future. Best setup. Set to report latest quarter Jan. 5. UBS names Club name Coterra Energy its No. 1 natural gas pick for 2024. Citi increases Linde price target to $475 per share from $450. Keeps buy rating. 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.

My top 10 things to watch Thursday, Dec. 21

Wall Street bounces higher after the S&P 500 had its worst day since September. The Dow and Nasdaq worst days since October. All three stock benchmarks are tracking for weekly losses, which would end their seven-week winning streaks. But who knows the way this market is moving?
Helping stocks is a further drop in bond yields. Thursday’s decline came after the government’s GDP report showed continued cooling inflation. The data supports the Fed on hold and ending its interest rate hiking cycle with case for rate cuts in 2024.
Micron shares pop more than 7.5%. Quarterly beats on earnings and revenue and strong guidance. CEO Sanjay Mehrotra calls the bottom in all but the data center. That means cell phones, PCs as well as industrial and auto.
Paramount Global and Warner Bros Discovery deal: To be or not to be? That Is the question. New reports saying they’re in early merger talks. Lots of speculation about Paramount’s future lately.
Wedbush raises Club name Amazon price target to $210 per share from $180. Keeps buy-equivalent outperform rating. Cites robust advertising sales and potential for market share gains in online ads.
Morgan Stanley upgrades Club holding Salesforce rating to overweight from equal weight (buy from hold) and boosts price target to $350 per share from $290. The analysts see 2024 generative artificial intelligence ramp. Low investor expectations versus top-line upside.
Truist raises Costco price target to $725 per share from $619. Keeps buy rating. The analysts say if Fed rate hiking over investors will seek about consumer stocks with strong growth potential.
JPMorgan says Club name and Mexican beer powerhouse Constellation Brands well-positioned for future. Best setup. Set to report latest quarter Jan. 5.
UBS names Club name Coterra Energy its No. 1 natural gas pick for 2024.
Citi increases Linde price target to $475 per share from $450. Keeps buy rating.

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.)

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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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