My top 10 things to watch Friday, Nov. 8 1. The Wall Street rally on Donald Trump’s election victory was taking a breather Friday morning. The S & P 500 and Dow Jones Industrial Average , on pace for their best weeks in a year, were poised for muted opens. The Nasdaq was set to open down. The Federal Reserve cut interest rates by a quarter point Thursday afternoon, and Chairman Jerome Powell said he feels good about the U.S. economy. Powell also said he’s going nowhere under Trump . 2. Bank of America downgraded Rivian to a neutral rating from buy, expressing worries that regulatory credits for electric vehicle makers could be at risk in a second Trump administration. In its earnings report Thursday, Rivian said sales of those credits to other automakers will help the company achieve positive gross profit in the fourth quarter. 3. Molson Coors reported a good quarter, and in response Wells Fargo double-upgraded the stock to a buy-equivalent rating from an underweight sell. Was it that good? Is beer back? It’s been a struggling category for a while now. Corona and Modelo, imported to the U.S. by Club name Constellation Brands , have been among the few bright spots. 4. Expedia’s third-quarter earnings per share topped estimates, as did room nights booked of 97.4 million. Revenue was a tad light. Still, the bull market in travel is still with us. Multiple analysts raised their price targets, including JPMorgan and BTIG. But Deutsche Bank actually downgraded the stock to hold from buy on concerns about its business-to-consumer business. 5. Travel peer Airbnb received a number of PT bumps after a mixed quarterly report of its own. Earnings per share of $2.13 missed estimates by a penny, but revenue of $3.73 billion edged out the consensus. Similar to Expedia, Airbnb’s nights and experiences booked of 123 million in the quarter was better than expected. Airbnb shares were lower Friday. 6. Telsey Advisory upgraded Club name Home Depot to a buy-equivalent outperform rating. Same goes for rival Lowe’s , which analysts like for reasons including the Fed’s rate-cutting cycle and hurricane recovery. Telsey sees both Home Depot and Lowe’s picking up share in the home-improvement market. 7. Drive-thru coffee chain Dutch Bros picked up multiple PT boosts following its great quarterly report and guidance raise earlier this week. I have its CEO, Christine Barone, on “Mad Money” on Friday night. Sweetgreen chief Jonathan Neman also is on the show. Goldman Sachs downgraded the salad chain to a neutral from buy after earnings, saying its stock looks fully valued thanks to its big run this year. 8. UBS and Barclays upped their PTs on Arista Networks after the provider of networking technology for data centers reported a big earnings beat. Shares were lower Friday, likely due to guidance for next year looking a bit light. However, management is known to be conservative with its outlook early on. 9. Shares of Doximity are soaring 30% in the premarket in response to a blowout quarter and stronger-than-expected quarter. The online platform for medical professionals was upgraded by Wells Fargo and KeyBanc. Wells went to a hold-equivalent rating from underweight. Key went to a buy-like overweight from sector weight. 10. Citigroup is getting off the hard-goods train, lowering its PTs for Williams-Sonoma and Club holding Best Buy , though we recently trimmed our position in the electronics retailer. Citi analysts say the setup into 2025 for the group has gotten more difficult thanks to bond yields moving up and Trump’s tariff threats representing a new overhang. 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.
My top 10 things to watch Friday, Nov. 8
1. The Wall Street rally on Donald Trump’s election victory was taking a breather Friday morning. The S&P 500 and Dow Jones Industrial Average, on pace for their best weeks in a year, were poised for muted opens. The Nasdaq was set to open down. The Federal Reserve cut interest rates by a quarter point Thursday afternoon, and Chairman Jerome Powell said he feels good about the U.S. economy. Powell also said he’s going nowhere under Trump.
2. Bank of America downgraded Rivian to a neutral rating from buy, expressing worries that regulatory credits for electric vehicle makers could be at risk in a second Trump administration. In its earnings report Thursday, Rivian said sales of those credits to other automakers will help the company achieve positive gross profit in the fourth quarter.
3. Molson Coors reported a good quarter, and in response Wells Fargo double-upgraded the stock to a buy-equivalent rating from an underweight sell. Was it that good? Is beer back? It’s been a struggling category for a while now. Corona and Modelo, imported to the U.S. by Club name Constellation Brands, have been among the few bright spots.
