Top 10 things to watch Friday, May 9 1. Stocks are set to open higher this morning, building on yesterday’s rally sparked by the announcement of a U.S.-U.K. trade deal, though the momentum faded toward the end of the session. 2. President Donald Trump wrote on Truth Social that a 80% tariff on China “seems right,” but said he’s leaving the decision up to Treasury Secretary Scott Bessent, who is holding trade talks with Chinese officials in Switzerland this weekend. 3. Affirm reported in-line revenues and better-than-expected gross merchandise volume, but shares are sliding after the midpoint of the revenue guide missed the consensus estimate. Susquehanna upgraded the stock to positive. 4. Club name Texas Roadhouse reported disappointing earnings but same-store sales in the first quarter were slightly better than expected. Trends accelerated in April and May, leading to 2Q same-store sales growth tracking better than estimates. But the company also increased its commodity inflation outlook, pressuring margins. 5. Lyft delivered better-than-expected gross bookings, upped its buyback program to $750 million from $500 million and plans to repurchase $500 million worth of shares within the next 12 months. Goldman upgraded to buy. Shares up 11% this morning. 6. Expedia lowered its full-year gross booking and revenue outlook due to softer travel demand in the U.S. Piper Sandler downgraded to an underweight sell rating. 7. Cantor Fitzgerald issued a mea culpa on its Marvell Technology note from earlier this week. Analysts acknowledged that they were wrong in suggesting the custom chipmaker would lose its Microsoft partnership for a custom AI accelerator. 8. DraftKings lowered its full-year outlook , but Jefferies says it was already priced in to the stock. A lack of upsets in the March Madness tournament was a headwind for the sportsbook. Shares added more than 4% this morning. 9. Trade Desk got back on track with a first-quarter beat and guided second-quarter adjusted EBITDA above the consensus estimate. Shares soared 15% this morning. 10. Pinterest shares are rallying on better-than-expected first quarter and revenue outlook. Executives credited AI for personalizing the user experience and making the company a more valuable partner to advertisers. 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.
President Donald Trump takes questions from the media following the swearing-in ceremony for David Purdue as ambassador to China at The White House on May 7, 2025 in Washington, D.C.
Ricky Carioti | The Washington Post | Getty Images
Top 10 things to watch Friday, May 9
1. Stocks are set to open higher this morning, building on yesterday’s rally sparked by the announcement of a U.S.-U.K. trade deal, though the momentum faded toward the end of the session.
2. President Donald Trump wrote on Truth Social that a 80% tariff on China “seems right,” but said he’s leaving the decision up to Treasury Secretary Scott Bessent, who is holding trade talks with Chinese officials in Switzerland this weekend.
3. Affirm reported in-line revenues and better-than-expected gross merchandise volume, but shares are sliding after the midpoint of the revenue guide missed the consensus estimate. Susquehanna upgraded the stock to positive.
