My top 10 things to watch Thursday, Dec. 11 1. Disney announced this morning it will make a $1 billion equity investment in OpenAI. It will also allow users to create videos with its copyrighted animated characters on Sora, OpenAI’s short-form video generator. Sora users will be able to make content with more than 200 characters across Disney, Marvel, Pixar, and Star Wars. I think Disney is smart to get on board here. 2. The S & P 500 was headed for a lower open this morning, retreating after nearing records Wednesday afternoon following the Federal Reserve’s 25-basis-point cut . It was the Fed’s third interest rate cut of 2025. Central bankers, however, signaled a slower pace for rate cuts ahead. Oracle shares sank more than 13% after last night’s disappointing earnings report. Tonight, Club holdings Broadcom and Costco will report their quarterly results. 3. During his post-meeting news conference, Fed Chairman Jerome Powell said good progress has been made on non-tariff inflation, adding it won’t hurt to wait to see if tariffs boost prices next year. He also said the labor market is cooling a bit faster than expected. This morning, the latest weekly tally of new jobless claims showed an unexpectedly large gain. 4. Do we know if the capital markets will allow Oracle to raise money even if they said it would be less than $100 billion? Jefferies analyst Brent Thill implies that Oracle’s largest client may not be able to pay. It’s hard to imagine that they can get what they do. Quarterly revenue missed and the guide was little light. Shares are down more than 13% premarket. 5. Adobe posted fiscal 2026 revenue and profit guidance that came in above Wall Street’s expectations last night. The fourth-quarter results showed increasing monetization for its AI offerings and strong demand for its design tools. Jefferies lowered its Adobe price target to $500 from $590, but maintained a buy rating. Analysts say that while generative AI usage for the Photoshop maker is increasing, any real acceleration seems beyond fiscal year 2026. 6. Bank of America upgraded design software company Synopsys to buy from hold, and raised its price target to $560 from $550 following yesterday’s quarterly earnings print. Analysts said that the company’s decent fiscal year 2026 outlook derisks China and “clears the decks [for] attractive stock catch-up potential.” Earlier this month, Club name Nvidia announced a $2 billion investment in Synopsys, with CEO Jensen Huang telling me at the time that the deal is a “culmination of everything” he showed me over the years. 7. Networking giant Cisco Systems has been on a steady climb since its April lows and ended yesterday at a record high; finally closed above its late March 2000 dotcom high. Investing is based on irony. This Club name is not in the headlines every day; just quietly grinding higher. Leaning into serving AI needs has been a boon for this old-guard tech stock’s resurgence. 8. Eli Lilly ‘s experimental obesity treatment delivered significant weight loss in a key trial . It also reduced knee arthritis pain. Retatrutide, as it is known, could cut down on the number of joint replacements. The Club stock was up 1% this morning. It has recently dipped under a $1 trillion market cap, a milestone first achieved late last month. 9. Piper Sandler hiked its price target on Alphabet to $365 from $330, and kept a buy rating. Analysts see Google’s core advertising business strengthening into next year and say the tech company’s return on investment remains strong. “Impressive fundamentals indeed, but everyone agrees,” Piper Sandler analysts wrote. 10. Bank of America lowered its price targets on many oil stocks across the crude lifecycle. BofA downgraded refiner Valero to hold from buy. Analysts said it looks like the “perfect storm” of temporary supports of the crude market could go away. The price of oil has already been declining since June. Separately, TD Cowen raised its SLB price target and kept its buy rating. Analysts see stability coming for oil field services stocks. 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.
