My top 10 things to watch Monday, Oct. 28 1. Wall Street is headed for a strong open to start the new week of trading, which will be dominated by earnings from some of the most influential tech companies and key economic reports. Equities on Monday were getting a lift from the oil market. 2. How low will oil go? West Texas Intermediate crude futures , the U.S. oil benchmark, are tumbling 6%, to around $67 a barrel. The slide is being attributed to Israeli airstrikes over the weekend avoiding Iran’s oil facilities. In early October, WTI settled around $77 before beginning a downward trend. 3. McDonald’s shares are up slightly after the company announced that the Quarter Pounder burger is returning to the menu of the roughly 900 restaurants impacted by a deadly E. coli outbreak . The item will not be served with slivered onions while the investigation into the root of the outbreak continues. The controversy has pressured the fast-food stock in recent days, which looks like a buying opportunity ahead of earnings Tuesday. 4. Boeing began a $19 billion stock sale to shore up its financial position amid worries of a credit downgrade. The troubled plane maker’s latest challenge is the prolonged machinist union strike, which has halted production of its 737 MAX for the past month. Shares of Boeing are down 40.5% year to date. 5. It’s a jam-packed week of earnings, as I discussed in my Sunday column for Investing Club subscribers . Apple on Thursday night may be the trickiest of them all. A shortfall versus estimates is widely telegraphed, but it won’t matter. Analysts likely will still downgrade the Club stock, so be ready. My “own it, don’t trade it” mantra has been a winning strategy . 6. Wells Fargo upped its price target on Spotify to $470 a share from $420 and reiterated its buy-equivalent rating. Analysts said the audio streaming giant’s gross margins should be able to expand further than consensus. Spotify rarely misses, and the stock has doubled so far in 2024. 7. This is always the time to buy Club name Home Depot . You want to be in before the housing cycle fully picks up. TD Cowen raised its price target on the retailer to $460 a share from $440, pointing to four factors that should fuel home improvement going forward, including aging housing inventory and favorable demographics as millennials seek out homes and older generations stay in their homes and need to remodel and renovate. 8. Club holding Dover was upgraded to a buy-equivalent rating from hold at Wolfe Research. Analysts said they have increased conviction that the industrial conglomerate’s growth rate in the second part of 2025 can move into the upper half of its peer group. The firm also highlighted Dover’s portfolio reshuffling toward better growth areas, something we’ve touted since taking a stake earlier this year. 9. Stifel downgrade Colgate-Palmolive on concerns that its organic growth rate in the coming quarters would slow, limiting the stock’s ability to command a higher valuation. The firm now has a hold rating and price target of $101 a share, down from buy and $105. I’ve liked Colgate stock as it was a very rare miss for a high-quality name. 10. Benchmark raised its price target on Tractor Supply to $310 a share from $280 and kept its buy rating on the retail stock focused on the rural lifestyle. The company’s earnings report last week was really great, and the stock should be bought because I expect good numbers ahead. 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.
Traders work on the floor of the New York Stock Exchange on April 26, 2023 in New York City.
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My top 10 things to watch Monday, Oct. 28
1. Wall Street is headed for a strong open to start the new week of trading, which will be dominated by earnings from some of the most influential tech companies and key economic reports. Equities on Monday were getting a lift from the oil market.
2. How low will oil go? West Texas Intermediate crude futures, the U.S. oil benchmark, are tumbling 6%, to around $67 a barrel. The slide is being attributed to Israeli airstrikes over the weekend avoiding Iran’s oil facilities. In early October, WTI settled around $77 before beginning a downward trend.
3. McDonald’s shares are up slightly after the company announced that the Quarter Pounder burger is returning to the menu of the roughly 900 restaurants impacted by a deadly E. coli outbreak. The item will not be served with slivered onions while the investigation into the root of the outbreak continues. The controversy has pressured the fast-food stock in recent days, which looks like a buying opportunity ahead of earnings Tuesday.
