My top 10 things to watch Monday, May 5
— Jeff Marks wrote the Top 10 today.
1. Wall Street was heading for a lower open after the S&P 500 on Friday logged its ninth positive session in a row. That was the first time that’s happened in two decades. This week, we’re watching the Fed meeting and Club earnings, including Disney.
2. President Donald Trump put 100% tariffs on movies produced overseas. It’s unclear how this will work. Meanwhile, the president teased trade deals may come this week.
3. Warren Buffett will be stepping down as CEO of Berkshire Hathaway at the end of the year. It was a remarkable run by the best and most knowledgeable investor of all time. He will still be chairman. Greg Abel will take over as CEO.
4. Oil falls after OPEC+ agreed to increase production by 411,000 barrels per day in June. The move follows a similar decision in May. Goldman Sachs lowered its West Texas Intermediate crude price forecast to $56 per barrel for the remainder of 2025 and $56 in 2026. It’s a win in the fight against inflation
5. Club name DuPont price target raised to $85 per share from $81 at KeyBanc, which kept its overweight buy rating after earnings on Friday. The analysts liked the quality of the growth story and re-rating potential. Morgan Stanley lowered its PT to $80 from $94 and maintained an equal weight hold.
6. Club name Eaton price target was increased to $355 per share from $325 at KeyBanc, with an overweight maintained. The analysts believe that data centesr will be a source of durable long term growth. Eaton reported an OK quarter Friday.
7. Club name CrowdStrike price target was increased to $500 per share from $400 at Citizens JMP. The analysts see momentum for the cybersecurity company ahead of earnings.
8. Morgan Stanley lowered Club name Home Depot price target to $410 per share from $425 and Lowe’s to $255 from $300. The analysts pointed out that their latest survey of 131 U.S. contractors shows signs of stability and growth despite uncertainty in the housing market.
9. Reddit was upgraded to buy from neutral at Seaport after a strong first quarter.
10. JPMorgan reiterates Club name Eli Lilly as a top pick within large-cap biopharma after Thursday’s CVS/Wegovy selloff. Lilly shares bounced back Friday and were steady today.
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