My top 10 things to watch Monday, Sept. 18
1. Stock futures are down slightly Monday morning as investors prepare for the Federal Reserve's next policy decision on Wednesday, followed by a press conference with Fed Chairman Jerome Powell. No interest rate increase is expected this time around, but investors and analysts will look for language that indicates only one or two more hikes.
2. In my Sunday column, I wrote about 4 big themes that are destabilizing the stock market — and things to look for this week. It's a lot to ask for in just one week. On the positive side, we've still only gotten garden-variety profit-taking. We'll discuss our plan for dealing with all these headwinds in our September Monthly Meeting this Thursday at noon.
3. The United Auto Workers continues its strike against the Big 3 Detroit carmakers — General Motors (GM), Chrysler-owner Stellantis (STLA) and Club name Ford (F). Ford and GM resumed talks on Saturday, while Stellantis said it planned to start negotiations again Monday. We wrote on Friday about the potential impact of a drawn-out strike.
4. Goldman Sachs lowering Tesla (TSLA) forecast because of price cuts on its electric vehicles. The moves will really hurt the Big 3.
5. Deutsche Bank says prices for DRAM — "dynamic random access memory" used in PCs, servers and workstations — are about to improve. That means time to buy semiconductor stock Micron (MU). It's a big call, upgrading MU to buy from hold.
6. Apple Vision Pro on tap for early release in early 2024. The opening and closing of fingers to use the virtual reality headset will become second nature. I wore it and here are 5 reasons why it will be a game-changer for Apple (AAPL) and its huge ecosystem.
7. Foxconn is doubling its workforce in India. This is a shot across the bow at China for Apple.
8. Nike (NKE) price target lowered to $120 from $130 at Wells Fargo. Analyst expects to hear more bad news when the company reports earnings later this month, but keeps it a buy. Why?
9. I recommended Ralph Lauren (RL) last week on Mad Money as the apparel stock as more workers return to the office. Guggenheim upgrades to buy from hold, sees much better margins in its forecast.
10. General Mills (GIS) price target cut to $77 from $88 at Piper Sandler, which says it will deliver on guidance but is lowering its multiple by two turns to a more historical level.
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