My Top 10 Things to Watch Tuesday, October 29th 1. After Wall Street started a busy week with earnings and economic data on Monday, the S&P 500 heads into quiet trading on Tuesday. Stock prices were supported by US crude oil’s worst single-day loss in two years. Oil prices rose just over 1% on Tuesday. 2. Even if they are good, we have seen the soft ones, like PepsiCo, Procter & Gamble, Colgate-Palmolive, and Coca-Cola, quietly deteriorate. This is a cycle. These stocks are making the case that the Fed will cut rates again, and soon. However, housing stocks insist the central bank will not cut interest rates. DR Horton shares had fallen sharply after the homebuilder missed quarterly earnings estimates and lowered its guidance. Which is correct? We don’t have enough information yet, but Friday’s employment numbers will tell us. 3. Stanley Black & Decker, one of the Fed’s lower rate housing strategies, was under pressure Tuesday morning after missing third-quarter earnings. The toolmaker adjusted its full-year outlook, raising the low end of the range but lowering the high end. Stanley Black & Decker reported third-quarter earnings per share that exceeded expectations. 4. China’s next trillion yuan economic stimulus plan is on the way. This also doesn’t work because these are all trying to help the real estate market. Many people were waiting for a stimulus package to help them buy products from the US, but that never happened. The club’s name has done nothing to help American companies like Starbucks and Apple that do large-scale business there. 5. City analysts believe Apple, as the club is known, will be overlooked when it releases its quarterly results after the close of trading on Thursday. I don’t know anyone on the planet who thinks Apple will make a profit this quarter. Why didn’t Apple announce it beforehand? The new iPhone 16 is banned in Indonesia due to local content. It was an important market. Clubstock will also be available on Amazon later Thursday. Amazon’s spending on satellite internet services will be closely watched. 6. After the close of trading on Tuesday, club names Alphabet and Advanced Micro Devices will report earnings. Club names Metaplatform, Starbucks and Microsoft will announce the results after the close of trading on Wednesday. Microsoft is set to debut a new reporting structure in hopes of further increasing visibility into its massive cloud computing business. Some Wall Street analysts are optimistic about the new reporting structure. 7. The Dow Jones Industrial Average fell as fast food giant McDonald’s outperformed in third-quarter EPS and revenue, but fell short in global same-store sales. After the CDC announced an E. coli outbreak linked to the Quarter Pounder last Tuesday, foot traffic at U.S. stores dropped about 10% in three days. This was announced by Gordon Haskett Research Advisors. 8. Pfizer beat expectations with third-quarter earnings and sales. Pharmaceutical companies have also significantly strengthened their leadership capabilities. Pfizer’s coronavirus vaccine and antiviral drug paxlobid contributed to the sales increase. Management reiterated its intention to absorb $4 billion in costs by the end of the year. 9. Embattled Boeing Co. is selling 112.5 million shares at $143 each to shore up its finances and protect its credit rating, which has been hurt by a mechanics strike that has lasted more than six weeks. Great price. The bankers did a great job. That’s why I’m glad I didn’t pay Tuesday’s closing price of $150. Why do people do such stupid things? Just stay focused. 10. Ford is once again hit by warranty issues, as revealed in a quarterly release. If inventory becomes too high and the outlook becomes even more negative, this stock could come under pressure. No matter how much cash it has, Ford doesn’t appear to be buying back its own stock for less than $11 a share. It would be a waste to buy this stock instead of buying General Motors stock, which is undergoing massive share buybacks. Sign up for free for my Top 10 Morning Thoughts on the Markets email newsletter (See here for a complete list of Jim Cramer Charitable Trust stocks.) Jim Cramer’s CNBC Investment Club As a subscriber, you can receive trade alerts. Before Jim trades. After Jim sends a trade alert, he waits 45 minutes before buying or selling stocks in his charitable trust’s portfolio. If Jim talks about a stock on CNBC TV, he will issue a trade alert and then wait 72 hours before executing the trade. The above investment club information is subject to our Terms of Use and Privacy Policy, along with our disclaimer. No fiduciary duties or obligations exist or arise from your receipt of information provided in connection with the Investment Club. No specific results or benefits are guaranteed.
Coca-Cola cans are displayed at a grocery store in San Rafael, California, on April 24, 2023.
Justin Sullivan | Getty Images
My Top 10 Noteworthy Tuesday, October 29th
1. After a busy week of earnings and economic data releases on Wall Street on Monday, the S&P 500 heads into a quieter week on Tuesday. Stock prices were supported by US crude oil’s worst single-day loss in two years. Oil prices rose just over 1% on Tuesday.
2. Even if they are good, we have seen the soft ones, like PepsiCo, Procter & Gamble, Colgate-Palmolive, and Coca-Cola, quietly deteriorate. This is a cycle. These stocks are making the case that the Fed will cut rates again, and soon. However, housing stocks insist the central bank will not cut interest rates. DR Horton shares had fallen sharply after the homebuilder missed quarterly earnings estimates and lowered its guidance. Which is correct? We don’t have enough information yet, but Friday’s employment numbers will tell us.
3. Stanley Black & Decker, one of the Fed’s lower rate housing strategies, was under pressure Tuesday morning after missing third-quarter earnings. The toolmaker adjusted its full-year outlook, raising the low end of the range but lowering the high end. Stanley Black & Decker reported third-quarter earnings per share that exceeded expectations.
