My top 10 things to watch Tuesday, Nov. 18 1. The S & P 500 was headed for a lower open this morning, putting the benchmark index on track for its fourth consecutive day of losses. That would be the S & P 500’s longest losing streak since August. Big laggards include Club holding Nvidia , down 1% ahead of the chipmaker’s third-quarter results tomorrow evening. 2. Tech-related selling has been spilling over into bitcoin . It briefly dipped below $90,000 today to its lowest levels since April, wiping out this year’s gains. The world’s biggest cryptocurrency has been sliding since its early October record high of more than $126,000. How much further can it fall? So many stocks depend on it. I know 20 off the top of my head. 3. There has been a lot of talk about a market correction and data center warnings. JPMorgan COO Daniel Pinto said at a Bloomberg conference earlier today that AI valuations are due for a reassessment, one that could send shockwaves across the entire market. Google CEO Sundar Pinchai told BBC that no company will be immune if the AI bubble were to burst. I don’t think anyone is talking about how the expense makes sense, though. 4. Home Depot posted a lackluster quarter this morning, which fell short of analysts’ estimates and marked the home improvement retailer’s third straight miss. Management also cut its full-year profit outlook. The Club stock was down 4% ahead of the opening bell. The dip is a chance to buy the highest quality company levered to interest rates. 5. Activist investor Elliott has taken a large stake in gold miner Barrick, according to the Financial Times. My question, however, is why now? The company has a better management team and is starting to do the right things. Plus, gold has already rallied. So, where is the need for an activist like Elliott? 6. Rothschild downgraded Microsoft to a hold from a buy. The analysts, who cut their price target to $500 from $560, believe in taking “a more cautious stance on the hyperscalers.” Rothschild cut fellow Amazon to a hold but kept its price target at $250. Club stocks Microsoft and Amazon were both down nearly 2% early this morning. 7. Bank of America double downgraded Honeywell to sell from buy and cut its price target to $205 from $265. The analysts acknowledged that the Solstice spin and next year’s split into separate aerospace and automation companies should create value. But they said it’s a challenging path. This call is insane. The future Honeywell breakup will create two very profitable companies. We own Honeywell for the Club and think the stock is a buy. 8. Akzo Nobel announced plans to acquire fellow paintmaker Axalta Coating Systems in a $25 billion deal. This will create a paint colossus. Do not confuse Axalta with the old auto painting company. It has diversified into a coatings company like PPG Industries. Axalta shares rose more than 7%. Akzo dropped 2.5%. 9. Blue Owl dropped modestly this morning, a day after falling nearly 6%. I think the company, which is a private credit leader on the hook for big AI data center loans, is uninvestable until we know more about what it has in it. Earlier this month, Blue Owl merged a privately-held private credit fund with a publicly-traded one. The private one has big losses, according to reports. 10. Bank of America upgraded Illinois Tool Works to a hold from a sell, and raised its price target on the manufacturer to $255 from $220. Analysts expect strong year-over-year margin expansion in 2026, which should drive earnings-per-share growth for the company. 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.
