What Cramer is watching Friday — a new wild card for Musk and Twitter, more earnings

Published Fri, Oct 21 20229:21 AM EDT

What I am looking at Oct. 21, 2022 The yield on the 2-year Treasury at 4.6% — a new 15-year high — signals 5% rate ceiling. The 10-year note hit a 14-year high on Friday. Twitter (TWTR) and Musk new wild card. Bloomberg is reporting that the U.S. is weighing security reviews for some of Tesla (TSLA) CEO Elon Musk's ventures, including the pending Twitter deal. A separate report in the Washington Post said Musk is planning to cut the Twitter workforce by 75%. Will the Federal Reserve kill the Dems' chances in the midterm elections with a hike at its next meeting on Nov. 2. Beginning to think that the House and the Senate go GOP. Jeffries lowered price target for Club name Estee Lauder (EL), but maintains its buy rating. We took advantage of shares dipping on Thursday to buy more of the cosmetics giant. Snap (SNAP) is a disaster: The Snapchat parent's shares dropped 28% in the premarket after forecasting no sales growth for the current quarter. But is it good for the other social media guys? It was meant to just be a silly photo app with disappearing images. It was never a real company. American Express (AXP) reported quarterly profit and revenue that beat Wall Street estimates. It sees full-year EPS above $9.25-$9.65, below consensus $9.91. Real growth with lower reserves. Dow Inc. (DOW) price target raised to $47 from $45 at Citi. Deutsche Bank lowered to $48 from $50. Mizuho raises by a buck to $47. Lennar (LEN) downgraded to a hold from a buy at Raymond James. KB Home (KBH) gets double downgraded to hold from "strong buy." Club holding Devon Energy (DVN) price target raised to $80 from $77 at Citi. Tractor Supply (TSCO) gets price cuts at Wedbush and Truist. Whirlpool (WHR) — double digit decline in orders. Profit and revenue missed forecasts. Stock fell more than 4% in the premarket. (See here for a full list of the stocks in 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.

SpaceX Chief Engineer Elon Musk takes part in a joint news conference with T-Mobile CEO Mike Sievert (not pictured) at the SpaceX Starbase, in Brownsville, Texas, U.S., August 25, 2022.

Adrees Latif | Reuters