Jim Cramer's top 10 things to watch in Wednesday's inflation-driven stock market decline

Published Wed, Apr 10 20249:22 AM EDT

My top 10 things to watch Wednesday, April 10 Slightly hotter than expected consumer price inflation sends bond yields soaring and stocks sharply lower. The Dow , the S & P 500 and the Nasdaq are all looking at 1%-plus declines at the open. March consumer price index : up 0.4% for the month, putting the 12-month inflation rate at 3.5%, or 0.3 percentage points higher than in February. Core CPI, excluding food and energy prices, also hotter. Fitch downgrades China, cutting China's sovereign credit outlook to negative. The action follows fellow U.S. credit rating agency Moody's similar move in December. Taiwan Semiconductor Manufacturing Company, known as TSMC, delivers a monster quarter , fastest monthly revenue growth since 2022 on artificial intelligence chip boom. Great piece from Melius about how terrific the Google Cloud speech by Thomas Kurian was. Alphabet 's Google using more Nvidia than ever. Morgan Stanley raises Nvidia price target to $1,000 per share from $795. Google also making its own chips, which is a win for Club name Broadcom on custom builds. Goldman Sachs' semiconductor readthroughs from Google's conference: Arm positive, Nvidia mild positive, Advanced Micro Devices mild negative, Intel mild negative. I think Intel's performance claims on its latest AI chip, Gaudi 3, seem dubious. Bullpen name ServiceNow gets price target bump at Jefferies to $900 per share from $885. AI tailwind increases confidence. Delta earnings better than expected and forward guidance is too. CEO Ed Bastian says bookings for both leisure and business are strong as the peak travel season approaches. Barclays raises Club name Ford price target to $16 per share from $15. Keeps a buy. Other price target raises on Club names on Wall Street: Danaher , DuPont and Wynn Resorts . 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 Wednesday, April 10

Slightly hotter than expected consumer price inflation sends bond yields soaring and stocks sharply lower. The Dow, the S&P 500 and the Nasdaq are all looking at 1%-plus declines at the open.
March consumer price index: up 0.4% for the month, putting the 12-month inflation rate at 3.5%, or 0.3 percentage points higher than in February. Core CPI, excluding food and energy prices, also hotter.
Fitch downgrades China, cutting China's sovereign credit outlook to negative. The action follows fellow U.S. credit rating agency Moody's similar move in December.
Taiwan Semiconductor Manufacturing Company, known as TSMC, delivers a monster quarter, fastest monthly revenue growth since 2022 on artificial intelligence chip boom.
Great piece from Melius about how terrific the Google Cloud speech by Thomas Kurian was. Alphabet's Google using more Nvidia than ever. Morgan Stanley raises Nvidia price target to $1,000 per share from $795. Google also making its own chips, which is a win for Club name Broadcom on custom builds.
Goldman Sachs' semiconductor readthroughs from Google's conference: Arm positive, Nvidia mild positive, Advanced Micro Devices mild negative, Intel mild negative. I think Intel's performance claims on its latest AI chip, Gaudi 3, seem dubious.
Bullpen name ServiceNow gets price target bump at Jefferies to $900 per share from $885. AI tailwind increases confidence.
Delta earnings better than expected and forward guidance is too. CEO Ed Bastian says bookings for both leisure and business are strong as the peak travel season approaches.
Barclays raises Club name Ford price target to $16 per share from $15. Keeps a buy.
Other price target raises on Club names on Wall Street: Danaher, DuPont and Wynn Resorts.

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.