My top 10 things to watch Monday, Feb. 3 1. The tariff-driven sell-off Monday on Wall Street will be bad but not like the scare you hear as the stocks that have been weak will get weaker. The stock market was too high going in. But President Donald Trump wants talks with everyone to get them to reshore or buy here. 2. I wrote two columns Sunday looking at the opportunities that may eventually arise from the market decline and how Nvidia and DeepSeek questions complicate the picture . Club stock Nvidia is not the only shakeout stock: Watch Palantir as well as nuclear and quantum stocks. 3. With import tariffs of 10% on China and 25% tariffs on Mexico and Canada set to go into effect Tuesday, I can’t rule out a 3% to 5% pullback in stocks when it’s all said and done. So far, we’re looking at a Dow, S & P 500, and Nasdaq down open to the tune of 1.4%, 1.6%, 1.8%, respectively. 4. Don’t be a hero Monday, unless you are looking at defensives like drugmakers. That’s Club stocks Eli Lilly and Bristol Myers , which both report quarterly results this week. Club holdings Alphabet , Amazon and Disney also deliver earnings. Friday brings the government’s jobs report. 5. Goal of tariffs is to get our goods bought by these countries. Looking for commitments to buy. Notice Canadian oil only gets hit with a 10% tariffs. Almost all of it comes here. Could make our oil companies pump more. No exception for Club name Apple , which has iPhones and other products assembled in China. 6. Shopping cart goes up, busting the chance that consumer inflation will go down from here. Tomatoes, avocadoes, tequila and beer will all go higher. Watch for the switch to American beer. That hurts struggling Corona brewer and Club name Constellation Brands . 7. Loop downgrades transports: Norfolk Southern and FedEx to hold from buy. They should be hit pretty hard by international trade slowdowns due to tariffs. GXO Logistics and CSX , too. The analysts go to sell from hold on Canadian Pacific and Canadian National Railway . They also see Union Pacific as a sell. 8. Lumber goes higher so new houses go higher in price. Homes not in consumer price index but impact will be felt. That’s Club holding Home Depot and Lowe’s. Cars should get more expensive, too. Wells cut price target on PVH . That’s good for Club name TJX Companies , which is a good place to go to buy. 9. Baird downgraded Club name CrowdStrike to hold from buy, saying shares rose too far, too fast. We sold some on that rally last week. We also put out a round up of all of last week’s trades over the weekend. Until Friday, the market was overbought. It is no longer. 10. Raymond James downgraded Danaher to hold from buy, citing a murkier outlook. I question if Danaher CEO Rainer Blair should stay here. The Club name is being run complacently. His conference call last week was subpar to say the least. 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.
Avocados and bananas from Mexico at a grocery store in San Francisco, California, US, on Thursday, Jan. 30, 2025.
David Paul Morris | Bloomberg | Getty Images
My top 10 things to watch Monday, Feb. 3
1. The tariff-driven sell-off Monday on Wall Street will be bad but not like the scare you hear as the stocks that have been weak will get weaker. The stock market was too high going in. But President Donald Trump wants talks with everyone to get them to reshore or buy here.
2. I wrote two columns Sunday looking at the opportunities that may eventually arise from the market decline and how Nvidia and DeepSeek questions complicate the picture. Club stock Nvidia is not the only shakeout stock: Watch Palantir as well as nuclear and quantum stocks.
3. With import tariffs of 10% on China and 25% tariffs on Mexico and Canada set to go into effect Tuesday, I can’t rule out a 3% to 5% pullback in stocks when it’s all said and done. So far, we’re looking at a Dow, S&P 500, and Nasdaq down open to the tune of 1.4%, 1.6%, 1.8%, respectively.
