My top 10 things to watch Monday, June 30 1. Wall Street looks to pick up where it left off on Friday after the S & P 500 and Nasdaq closed at record highs . The market took the Israel-Iran conflict in stride. With one trading day left in June, both stock benchmarks are up big for the month and for the second quarter. 2. Canada rescinded its Digital Services Tax after President Donald Trump cut off U.S. trade talks with our neighbors to the north. We’re also going to watch the Trump-backed mega-bill making its way through the Senate. All this is making for a market that is as hopeful as it’s been in ages, as I wrote in my Sunday column . 3. The reignited AI trade continues to power our megacap tech stocks higher. Nvidia hit all-time highs last week and is our biggest winner in June, up 16.7%. Amazon has gained nearly 9%, with one day left in June. CEO Andy Jassy will be my guest on “Mad Money” tonight. 4. Home Depot has agreed to buy GMS , adding to its building products distribution arm. The $5.5 billion deal would put GMS under the SRS Distribution umbrella and would help Club name Home Depot win more business from contractors, roofers and other home building and renovation pros. 5. Jefferies upgraded Club name Disney to buy from hold, saying it is de-risked for second half. The analysts, who also highlighted Disney’s cruise business, raised their price target to $144 per share from $100. Despite our small Disney trim Friday, we are believers in the stock long term. 6. All the big banks passed the latest Federal Reserve stress tests. Following the announcement, which came after Friday’s close, shares of Club names Wells Fargo and Goldman Sachs rose this morning. It’s another shot of good for Wells Fargo, which got its 2018 Fed-imposed asset cap lifted early this month . 7. Citi upgraded Linde to a buy from hold and boosted its price target to $535 from $500. The industrial gas and engineering name is a core position for the Club portfolio. The Citi analysts pointed to better productivity and solid project execution. 8. Goldman Sachs started military drone maker AeroVironment with a buy rating and a $301 price target. I recommended the stock during the Mad Dash segment on “Squawk on the Street” on Wednesday when it was in the $190s. It went parabolic that day and closed last week at $278. 9. Goldman Sachs started Circle with a neutral rating but acknowledged the stablecoin issuer is a special company with big opportunities ahead. While the analysts’ price target reflects more than 50% downside from current levels, Circle is up 480% from its early June IPO price. There were also a mix of buys and hold from other analysts and a sell-equivalent at JPMorgan. 10. Stifel upgraded Oracle to a buy from hold and boosted its price target to $250 from $180. The analysts see sustainable cloud growth ahead. They also praised the management team for being “extremely adept at managing expenses.” 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.
Jim Cramer’s top 10 things to watch in the stock market Monday
