My top 10 things to watch Friday, Oct. 10 1. The gold rally has been one of the week’s biggest market stories, and the stocks of gold miners have been flying, too. Some profit-taking was likely behind yesterday’s pullback in both bullion and the miners. Raymond James upped its price target on Newmont ($96 from $84) and Agnico Eagle ($182 from $155), my two faves, this morning. Gold futures also were back above $4,000 an ounce. 2. Cisco Systems and Arista Networks , both data center networking plays, landed price target boosts at Morgan Stanley. Demand is strong. Analysts went to $77 a share from $73 on Cisco, which we own for the Club as a low-beta play on the data center, and kept their buy rating. They went to $171 from $140 on buy-rated Arista. 3. Chinese antitrust regulators opened a probe into American chipmaker Qualcomm over its acquisition of vehicle tech supplier Autotalks. The stock dropped more than 1%, off its lows of the morning. This is not the first time we’ve seen Beijing target U.S. tech firms ahead of trade talks with Washington. 4. Marvell Technology is getting its due. Oppenheimer loves it, taking its price target on the buy-rated stock to $115 from $95, following a meeting with management. Marvell has a deep and broad portfolio of AI data center products, from custom chips to networking and optics. Meanwhile, Susquehanna upped its PT on chipmaking giant TSMC to $400 from $300. 5. We’re headed toward a slightly higher open this morning, the final day of a mixed week in the market. The Dow is down about 0.9% week to date, while the Nasdaq is up about 1%. The S & P 500 has gained a more modest 0.3%. The federal government shutdown is still in effect. Third-quarter earnings season begins next week. 6. Levi Strauss shares dropped more than 7% this morning after the denim maker warned about higher tariff costs pressuring current-quarter margins. Investors looked past rosy guidance and a better-than-expected third quarter. Levi has been mitigating tariff impact through targeted price increases and a shift away from wholesalers. 7. Bernstein raised its Delta Air Lines price target to $74 from $71 after yesterday’s solid quarter and strong guidance, which sent the stock up more than 4%. Shares were up modestly this morning. The Bernstein analysts also kept their buy rating. A host of other Wall Street research firms hiked their Delta PTs and maintained buy ratings. 8. Wells Fargo trimmed its price targets on paint and coating companies Sherwin-Williams ($395 from $400) and PPG ($132 from $135) but kept its buy ratings on both stocks. The analysts think the U.S. housing market will continue to face headwinds, but industrial demand may be stabilizing and even improving. 9. Bank of America reduced its price targets on homebuilders: D.R. Horton ($165 from $175), KB Home ($62 from $67), Lennar ($125 from $133), PulteGroup ($140 from $145), Toll Brothers ($150 from $155). The analysts cited Washington’s focus on housing affordability, as “housing demand has been sluggish, and incentives are still elevated.” 10. Barclays raised its General Motors price target to $77 from $73 and kept its buy rating ahead of earnings. The analysts expect most of the auto sector to beat but worry about soft guidance to manage expectations. Barclays kept its Ford price target at $11 and its hold rating. 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.
