Top 10 things to watch in the stock market Friday

Published Fri, Sep 15 20239:15 AM EDT

Top 10 things to watch in markets Friday, Sept. 15 The Dow , the S & P 500 and the Nasdaq are set for lower opens after Thursday's strong rally on optimism around the Arm (ARM) IPO and shrugging off higher than expected producer price report. At the same time, we're watching oil , which is holding above $ 90 per barrel. Those higher fuel costs, noted in this week's inflation reports, compete for after-tax dollars. Priority over most discretionary purchases. Adobe (ADBE) is seeing a slew of price target hikes on the back of a very good fiscal third report. Sales and earnings beat, guidance ahead of expectations. Perhaps too much enthusiasm ahead of the print has the stock down 3.5% in early Friday trading. The United Auto Workers is officially on strike. Thousands of union members walked off the job at three U.S. assembly plants at General Motors (GM), Chrysler-owner Stellantis (STLA) and Club name Ford (F). The UAW acted after it was unable to reach a new labor contract with the automakers by the deadline. The old deal expired at 11:59 p.m. on Thursday. Arm shares gained another 4.5%, one day after popping nearly 25% on their Thursday debut. The chip designer's banner day is also a big win for the banks, such as Club name Morgan Stanley (MS), which have had anemic investment banking activity all year. Inspired by the appetite for Arm's IPO, grocery delivery app Instacart is raising its proposed price range for its initial public offering, targeting a fully diluted valuation of up to $10 billion. Food delivery DoorDash (DASH) is transferring its stock listing to the Nasdaq from the NYSE. It's a big blow to the NYSE, which has for years been wooing tech-focused companies. Meanwhile, Moffett Nathanson is downgrading DoorDash to market perform (hold), citing the resumption of student loan payments. Barclays says the expanded partnership between Club names Microsoft (MSFT) and Oracle (ORCL) is a win-win. It puts Oracle database products in Microsoft's Azure cloud. HSBC is initiating coverage of ORCL with a buy rating and a $144-per-share price target. HSBC is also starting coverage on Club name Salesforce (CRM)with a buy rating and $267-per-share price target. China's retail sales surprise with faster growth in August, advancing 4.6% year-over-year, crushing estimates for a 3% gain. Perhaps indicating a better times ahead for the Chinese consumer in what's been some post-Covid struggles for the world's second-largest economy. Club name Estee Lauder (EL), which does a lot of business, there is seeing its stock up more than 1%. 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.

Top 10 things to watch in markets Friday, Sept. 15

The Dow, the S&P 500 and the Nasdaq are set for lower opens after Thursday's strong rally on optimism around the Arm (ARM) IPO and shrugging off higher than expected producer price report.
At the same time, we're watching oil, which is holding above $ 90 per barrel. Those higher fuel costs, noted in this week's inflation reports, compete for after-tax dollars. Priority over most discretionary purchases.
Adobe (ADBE) is seeing a slew of price target hikes on the back of a very good fiscal third report. Sales and earnings beat, guidance ahead of expectations. Perhaps too much enthusiasm ahead of the print has the stock down 3.5% in early Friday trading.
The United Auto Workers is officially on strike. Thousands of union members walked off the job at three U.S. assembly plants at General Motors (GM), Chrysler-owner Stellantis (STLA) and Club name Ford (F). The UAW acted after it was unable to reach a new labor contract with the automakers by the deadline. The old deal expired at 11:59 p.m. on Thursday.
Arm shares gained another 4.5%, one day after popping nearly 25% on their Thursday debut. The chip designer's banner day is also a big win for the banks, such as Club name Morgan Stanley (MS), which have had anemic investment banking activity all year.
Inspired by the appetite for Arm's IPO, grocery delivery app Instacart is raising its proposed price range for its initial public offering, targeting a fully diluted valuation of up to $10 billion.
Food delivery DoorDash (DASH) is transferring its stock listing to the Nasdaq from the NYSE. It's a big blow to the NYSE, which has for years been wooing tech-focused companies. Meanwhile, Moffett Nathanson is downgrading DoorDash to market perform (hold), citing the resumption of student loan payments.
Barclays says the expanded partnership between Club names Microsoft (MSFT) and Oracle (ORCL) is a win-win. It puts Oracle database products in Microsoft's Azure cloud. HSBC is initiating coverage of ORCL with a buy rating and a $144-per-share price target.
HSBC is also starting coverage on Club name Salesforce (CRM)with a buy rating and $267-per-share price target.
China's retail sales surprise with faster growth in August, advancing 4.6% year-over-year, crushing estimates for a 3% gain. Perhaps indicating a better times ahead for the Chinese consumer in what's been some post-Covid struggles for the world's second-largest economy. Club name Estee Lauder (EL), which does a lot of business, there is seeing its stock up more than 1%.

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.