Jim Cramer's top 10 things to watch in the market Wednesday: Nat gas, semiconductors, banks

My top 10 things to watch Wednesday, Jan. 11, 2023 1. Stocks up Wednesday morning. Bond yields down. Oil and natural gas up, too. But nat gas has been on a nearly two-month slide. Tom Jorden, CEO of Club holding Coterra Energy (CTRA), mounted a spirited defense of the much-maligned company in an interview with me late Tuesday. Coterra is about 50% crude and 50% nat gas. 2. KeyBanc very negative on Club holding Advanced Micro Devices (AMD), saying demand has softened across the board; lowers price target to $80 per share from $85. Barclays actually raises PT to $70 from $68; acknowledges weakness. December bad. 3. Club holding Nvidia (NVDA) is top five S & P 500 stock so far this year after a really rough 2022. I do worry about gaming, smartphones, and the need for more data centers even. KeyBanc cuts PT to $220 from $230. Listen to ” The Homestretch ,” our new daily audio feature exclusive to Club members. It’s a way for me to help you get ready for the final hour of trading. Look for our text and email alerts. 4. Lots of Apple (AAPL) news: Going to make screens, taking it away from competitor Samsung. KeyBanc sticks with the Club stock, but talks about near-term noise; says iPhone sales rebounded during the holiday shopping season. Barclays cuts Apple price target to $133 per share from $144; reduces estimates for this quarter and next. 5. Club holding Salesforce (CRM) downgraded to underperform from market perform (sell from hold) at Bernstein. Analysts think that slowing growth was masked by acquisitions. It’s a real nightmare for a company about to lose its co-CEO; already announced a 10% cut in staff and hinted at more . I have been saying there needs to be more. 6. Mortgage refinance demand surged as homeowners take advantage of lower home loan rates. The average rate for 30-year fixed-rate mortgages decreased last week to 6.42% from 6.58%. 7. Wells Fargo (WFC), once the No. 1 player in mortgages, is stepping back from the housing market. We put out a note Wednesday morning about how we’re sticking with Wells Fargo and Morgan Stanley (MS) ahead of bank earnings that kick off Friday. 8. Bank of America downgrades Coinbase (COIN) to underperform from neutral (sell from hold); cuts price target to $35 per share from $50. Rival crypto exchange Binance plans a 15% to 30% hiring spree in 2023 after its headcount more than doubled last year. 9. Crypto bank Silvergate Capital (SI) got a highly unusual $4.3 billion loan from the Federal Home Loan Bank to stave off a run. Happened late last year . This is pretty incredible. I don’t think people recognize the pain that’s still coming to this already beaten-down group. All very glib. 10. The Federal Aviation Administration had halted all U.S. flight departures to fix a system outage. “There is no evidence of a cyberattack at this point,” the White House said. Residual delays could last hours now that the ground stop has been lifted. (Jim Cramer’s Charitable Trust is long CTRA, AMD, NVDA, AAPL, CRM, WFC, MS. See here for a full list of the stocks.) 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 Wednesday, Jan. 11, 2023

1. Stocks up Wednesday morning. Bond yields down. Oil and natural gas up, too. But nat gas has been on a nearly two-month slide. Tom Jorden, CEO of Club holding Coterra Energy (CTRA), mounted a spirited defense of the much-maligned company in an interview with me late Tuesday. Coterra is about 50% crude and 50% nat gas.

2. KeyBanc very negative on Club holding Advanced Micro Devices (AMD), saying demand has softened across the board; lowers price target to $80 per share from $85. Barclays actually raises PT to $70 from $68; acknowledges weakness. December bad.

3. Club holding Nvidia (NVDA) is top five S&P 500 stock so far this year after a really rough 2022. I do worry about gaming, smartphones, and the need for more data centers even. KeyBanc cuts PT to $220 from $230.

Listen to “The Homestretch,” our new daily audio feature exclusive to Club members. It’s a way for me to help you get ready for the final hour of trading. Look for our text and email alerts.

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