My top 10 things to watch Friday, March 28 1. Wall Street was headed for a lower open, with weekly gains as of Thursday’s close in jeopardy. Tariff uncertainty is sitting on the market as the Fed’s preferred inflation gauge came in hotter than expected. 2. The core personal consumption expenditures (PCE) price index rose 2.8% year over year — above the expected 2.7% gain. Meanwhile, consumer spending posted a smaller-than-expected increase. 3. The debacle that is CoreWeave : Does it signal the end of the data center theme (for now)? The IPO was priced at $40 per share, below the expected range. Debuts on the Nasdaq today. Club name Nvidia is a big shareholder. 4. President Donald Trump’s announcement of 25% tariffs on imported autos and auto parts slammed Detroit’s carmakers. Shares of General Motors fell over 7% yesterday and were modestly lower today. 5. Nippon Steel is closing in on U.S. Steel . Semafor reports that Japan-based Nippon is willing to invest as much as $7 billion U.S. Steel to get Trump to approve their merger. 6. Citizens JMP cut its Reddit price target to $155 per share from $200 but kept its outperform rating. The analysts cited tariffs as something that could lead to lower demand for digital advertising. 7. Lululemon delivered a softer guide but do not give up on this. The bar is now set low. Shares sank 12%. Raymond James downgraded to hold-equivalent on slowing growth. Other Wall Street analysts cut their price targets. 8. Piper Sandler makes a case that Etsy and eBay should merge to create more value. The analysts said Etsy needs frequency, data, and scale, which eBay has plus AI investments. Piper admits the likelihood of deal is “relatively low.” 9. Citizens JMP came away from a Robinhood event liking the stock very much due to moves into “new sizable addressable markets” The analysts reiterated their outperform buy rating and $77-per-share price target. 10. Morgan Stanley lowered its price target on chip designer Arm Holdings to $150 per share from $175 but kept its overweight buy rating. The analysts picked Cadence Design to replace Arm as a top industry pick. 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.
In an aerial view, Chevrolet cars and trucks are on display at Novato Chevrolet on Jan. 28, 2025 in Novato, California.
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My top 10 things to watch Friday, March 28
1. Wall Street was headed for a lower open, with weekly gains as of Thursday’s close in jeopardy. Tariff uncertainty is sitting on the market as the Fed’s preferred inflation gauge came in hotter than expected.
2. The core personal consumption expenditures (PCE) price index rose 2.8% year over year — above the expected 2.7% gain. Meanwhile, consumer spending posted a smaller-than-expected increase.
3. The debacle that is CoreWeave: Does it signal the end of the data center theme (for now)? The IPO was priced at $40 per share, below the expected range. Debuts on the Nasdaq today. Club name Nvidia is a big shareholder.
