Jim Cramer’s 10 Key Focus Points for Friday’s Stock Market

Hey, ever wonder what’s driving the stock market today? Jim Cramer’s got the lowdown! He’s breaking down the top 10 things you need to know about Friday’s market scene. From tech vibes to oil trends, Cramer’s guide is your go-to for understanding what’s happening out there. Whether you’re a pro or just starting out, buckle up for an easy ride through the market’s must-knows, all thanks to Jim Cramer’s insights!

1. Stocks’ Direction: S&P 500 Slips, Nasdaq Holds Steady

S&P 500 futures are down by 0.3%, hinting at a potential end to a five-week climb. Meanwhile, the Nasdaq shows resilience, eyeing a sixth consecutive week of gains despite a slight early dip of 0.55%. Bond yields see a minor rise, hovering just below 4.2% for the 10-year Treasury.

2. Oil Prices Rebound: West Texas Intermediate Bounces Over 2%

Oil prices bounced back, surging by over 2% on Thursday morning. West Texas Intermediate, the U.S. oil benchmark, rebounds above $70 per barrel despite facing seven consecutive weeks of decline.

3. Honeywell’s Purchase: Buying Carrier Global’s Security Arm for $4.95 Billion

Honeywell International made a significant move, agreeing to purchase Carrier Global’s security business for $4.95 billion. Carrier intends to use this money to speed up its debt repayment. Both companies aim to finalize the all-cash transaction before Q3 2024.

4. Broadcom’s Mixed Quarter: Strong Profits Despite Revenue Miss

Broadcom’s fiscal fourth-quarter results show a mixed bag: while it falls short on revenue, the company posts robust profits. Factors like artificial intelligence and VMware acquisition are expected to drive further growth, compensating for cyclical aspects in the semiconductor industry.

5. Mizuho Raises Broadcom’s Target: Positive Outlook Spurs Increase

Mizuho raises Broadcom’s target price to $1,000 per share, up from $960, maintaining a buy rating. They highlight optimistic guidance, strong margins, and healthy free cash flow within the semiconductor sector.

6. iPhone Assembly in India: Tata Group’s Plan to Assist Apple

Tata Group announces plans to build a substantial iPhone assembly plant in India, aiming for 20 assembly lines and an estimated 50,000 employees. This move aims to support Apple in broadening its supply chain and expanding its presence in India.

7. Morgan Stanley Upgrades Apple: Bright Prospects Drive Price Target Increase

Morgan Stanley lifts Apple’s price target to $220 per share, up from $210, maintaining an overweight rating. Despite economic challenges, the firm sees promising opportunities in Edge AI, services, and strong gross margins, reigniting positive sentiment for the stock.

8. Tesla’s Challenges: Bernstein Flags Demand Issue

Bernstein labels Tesla a “best idea” while pointing out challenges for the electric vehicle maker in 2024, specifically citing a demand problem due to a limited product lineup. They maintain an underperform rating, setting a $150 per share price target.

9. DoorDash’s Encouraging Outlook: Mizuho Raises Price Target

Mizuho raised DoorDash’s price target to $120 per share from $105, reaffirming a buy rating. They anticipate continued growth in profit margins, expecting the food-delivery platform to keep gaining market share.

10. Lululemon’s Strong Quarter: Analysts Optimistic After Positive Start to Holidays

Lululemon Athletica reports robust third-quarter results and a promising beginning to the holiday shopping season. Wall Street firms, including Barclays, increased their price targets, with Barclays setting it at $530 per share from $480, maintaining a buy rating on the stock.