My top 10 things to watch Friday, Sept. 5 1. President Donald Trump meets, touts, and tortures. During a dinner at the White House Thursday night with more than two dozen tech execs, Trump again warned he would soon impose “fairly substantial” semiconductor tariffs without indicating how they will work or what it means. Apple and Meta seem most favored. 2. Nonfarm payrolls increased by 22,000 in August versus analysts’ estimate of 75,000, while the unemployment rate rose to 4.3%, according to a Bureau of Labor Statistics report Friday. Stock futures rose on the expectation that weaker numbers will push the Federal Reserve to cut interest rates in September. Conversation about a 50 basis point cut may pick up from here. 3. Broadcom saw a dramatic acceleration in spending on AI chips and is adding new customers beyond TikTok parent ByteDance, Meta, and Alphabet . The chipmaker posted a beat and raise Thursday after the bell, but the stock didn’t really take off until CEO Hock Tan talked about $10 billion in custom AI-related orders from a new customer. VMWare, the software giant Broadcom bought for $69 billion nearly two years ago, was strong too. We raised our price target on shares, which are up 15% this morning. 4. Lululemon is disappointing again, with the stock plunging nearly 20% after the company gave a worse-than-expected full-year outlook. Too expensive and too much competition. No more de minimis exception, which allowed packages under a certain value to enter the U.S. without paying tariffs. Multiple downgrades on the Street. The end of athleisure or on to the next buzzy brand? 5. UnitedHealth caught a price target raise at Bernstein, which went to $379 from $337. It was the second PT boost this week for the health insurer. Is the bottom in? The analysts also raised CVS Health to $77 from $72. 6. JPMorgan cut its FedEx price target to $285 from $290 heading into the company’s Sept. 18 earnings. The firm said estimates for fiscal Q1 could come in weak thanks to “stagnant” business-to-business demand. 7 . Wells Fargo raised its price target on American Express to $375 from $350 — remains incredibly strong. I’ve been a fan of this one for ages. 8. DoorDash ‘s price target was raised to $306 from $280 at Wells, which raised its 2026 EBITDA estimates. 9. J.B. Hunt downgraded to hold from buy at UBS, noting that a pricing inflection in the truckload market is less likely in the near term. No demand catalyst in sight. 10. Barclays lowered its price target on Adobe to $460 from $567 heading into its earnings report next week. The firm kept an overweight buy rating, though. Adobe uses the same model as struggling Club stock Salesforce — they charge too much. 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.
