Jim Cramer’s top 10 things to watch in the stock market Wednesday

1. The S&P 500 and Nasdaq are trying to extend their winning streaks to three sessions. Bond yields are higher again so perhaps some headwinds ahead. Tech stocks have been leading the bounce back after rough sledding since the beginning of March.
2. The Club’s five top-performing stocks since the March Monthly Meeting span four sectors from financials to tech. At noon ET on Wednesday, we’re holding our April Monthly Meeting. I’m going to talk about how divided the market has become and how we’re playing it.
3. Multiple price target bumps for General Motors after Tuesday’s great quarter. Club name Ford reports earnings after the closing bell Wednesday. Fellow Club stocks reporting this week: Meta Platforms is also on tap for Wednesday evening; Honeywell is out Thursday morning; and Microsoft and Alphabet comes after Thursday’s close.
4. Tesla pulls a rabbit out of the hat with the mention of affordable EVs coming. It’s almost as if Elon Musk planned the whole thing. But you try saying that. Baird sees a turning point on bearish sentiment. The beaten-down stock soars 10% despite a disappointing quarter. Musk also names his robotaxi idea: CyberCab.
5. Shares of Texas Instruments jump more than 6.5%. The company says the industrial portion of its business is bottoming. The readthrough there is Analog Devices, not Club holding Broadcom. But investors won’t care and they will buy all semiconductor stocks on this. Broadcom is higher and so is fellow Club name Nvidia.
6. Rubrik IPO is massively oversubscribed. It does enterprise software with cybersecurity. Partner with CrowdStrike and backed by Microsoft. Could be hottest IPO since Arm and will ignite the brokers. In cybersecurity, the Club owns Palo Alto Networks.
7. Dow stock Visa reports better-than-expected numbers as, like the endless rally in American Express since Friday shows, the consumer is spending. I wish we owned Visa or Mastercard, which was a Club stock at one point. Visa shares are up 2.5%.
8. Boeing, another Dow stock, rises nearly 3.5% after better-than-feared quarter. Outgoing CEO Dave Calhoun tells CNBC about a stabilizing supply chain due to the latest 737 Max safety crisis.
9. Club name Danaher gets multiple price target raises. It has bottomed and now going much higher especially, with a better IPO market. The life sciences company on Tuesday delivered beats across its three main businesses, signaling the long-awaited turnaround in biotech has arrived.
10. Foot Locker unveils what it calls the “store of the future.” It debuts at a New Jersey mall Wednesday. The new concept will inspire the overhaul of 900 stores over the next two years. We bought Foot Locker for the Club as a turnaround, which is taking longer than expected.

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