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Jim Cramer’s Top 10 Things to Watch in the Stock Market on Friday
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Jim Cramer’s Top 10 Things to Watch in the Stock Market on Friday

Apple’s iconic Fifth Avenue store will be ablaze with iOS 18 colors as the new iPhone 16 series begins selling in New York on September 20, 2024.

Fatih Aktas | Anadolu | Getty Images

My top 10 things to see on Friday November 1st

1. Wall Street is headed for a higher open on Friday as the market looks past a weak jobs report. Still, the major averages are all lower this week, with the most tech-heavy companies posting the biggest losses Nasdaq Compositewhich was down more than 2% through Thursday. The 10-year Treasury yield is taking a breather from its recent rise, but was still above 4.2% on Friday.

2. The U.S. economy added just 12,000 jobs in October, well below the Dow Jones estimate of 100,000. The report appears to confirm expectations that there would be a loud squeeze due to the ongoing Boeing attack and hurricanes that caused damage in the southeastern states. The unemployment rate remained unchanged at 4.1% and was in line with expectations.

3. Amazon posted a solid beat and rise after trading closed on Thursday. Europe is changing, costs are falling, the number of employees is falling for two years, promotions are working, artificial intelligence is on the rise, soon Alexa will be a truly understanding friend. Huge amount of advertising. The AWS cloud unit is running at full speed. Prime Days are real hits, the aim is to combat inflation. Additionally, the fourth quarter guidance was exactly what was needed to keep investors happy. Shares rose more than 7% in after-hours trading.

4. Late Thursday, Apple delivered a quarter that was better than feared. The questions for the iPhone manufacturer are diverse. The most important question is: Why were the predictions for the forecast so high? Apple was doomed because the real problem wasn’t this quarter, but the next quarter. Expectations were too high as AI adoption was staggered and ruined everyone in China. But India is on the rise, reaching $100 billion a year in services sales. Europe very strong. Why was this stock at $228? What unsuspecting person bought it? CEO Tim Cook says it could be the end of hardware cycles.

5. Intel: The floor is in. It has the money. It is now here to stay, even if it missed AI. The chipmaker reported better-than-expected earnings on Thursday and issued upbeat guidance that sent shares up 7%.

6. Comcast Trial Balloon: Mike Cavanagh, the company’s president, said Thursday that it was considering spinning off its cable networks during the company’s third-quarter earnings call with investors (Comcast is the parent company of CNBC and CNBC is one of the cable networks). Could it be a pure broadband and theme park game, perhaps with money from cable TV? The end of the package and the start of broadcasting Nightly News on Peacock, which becomes a sports and news channel with the Olympics. Multiple price target increases as broadband losses now moderate.

7. MasterCard Is a $500 billion company with so much good happening the star of fintech? No credit risk. The company reported third-quarter adjusted earnings per share on Thursday that beat Street expectations.

8. Estee Lauder at JPMorgan downgraded from “buy” to “hold” – the worst ever. The first real victim of China’s dissolution.

9. Abbott Labs won in his recent trial against allegations that his special premature baby formula caused an intestinal disease commonly abbreviated as NEC – although the judge in the case, heard in Missouri’s 22nd Judicial Circuit, did not allow jurors to hear Major’s testimony US health officials support Abbott and the formula. Worth ten points, easy. Shares of the healthcare company rose 5% following the news.

10. Goldman removed Enphase from his conviction shopping list. There’s only one solar stock worth buying: the name of the association Nextrackerwhich had an underwhelming quarter this week. Election risk remains an issue to watch for the group.

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