economy
Jim Cramer's Top 10 Things to Watch in the Stock Market Monday
Oil prices are surging again after the U.S. and Iran's talks were unsuccessful. Goldman shares dropped on earnings.
TL;DR
- Dow futures declined significantly as WTI crude oil rose above $100 a barrel amid geopolitical tensions.
- Goldman Sachs exceeded first-quarter earnings expectations due to strong investment banking and equities trading, despite weaker fixed-income trading.
- Best Buy received a double downgrade from Goldman Sachs due to concerns over high memory prices and appliance sales.
- Williams-Sonoma was upgraded by Goldman Sachs, citing an attractive entry point and positive developments in its store portfolio.
- Constellation Brands was upgraded by TD Cowen, with analysts anticipating conservative guidance and potential sales boosts from the World Cup.
- Evercore upgraded several homebuilders, including Pultegroup and Toll Brothers, believing negative housing market news is already priced in.
- Adobe received a 'hold' rating from BTIG, with concerns about its long-term revenue and margin trajectory due to AI disruption.
- Starbucks was upgraded to 'hold' by Jefferies, reflecting optimism about its China joint venture and stabilizing U.S. business.
- Cummins and Caterpillar saw price target increases from Citi, anticipating benefits from an improving North American truck market and data center buildouts.
- The market's resilience last week was partly attributed to the bond market, despite ongoing concerns about Iran, software stocks, and earnings season.