My top 10 things to watch Tuesday, Sept. 30 1. Wall Street was heading for a slightly lower open as the prospect of a government shutdown loomed. House Speaker Mike Johnson told CNBC that Democrats should “do the right thing” and pass a clean stopgap funding measure. Federal funding runs out today, risking a shutdown at 12:01 a.m. ET first thing tomorrow morning. 2 . The S & P 500 closed up yesterday for the second session in a row. Today is the last day of September, which has been historically weak. But this month, the S & P 500 has gained more than 3%. The end of September also brings a close to the quarter, with the index up more than 7% in Q3. 3. Evercore initiated coverage of CoreWeave with a buy and a price target of $175. Knows the stock is volatile near term, but sees high probability that the company can scale as an “Infrastructure-as-a-Service” provider. In my Sunday column , I wrote about how investors are wrong to compare CoreWeave to all the buildout companies from the dot-com bubble. “How to Make Money in Any Market,” my latest book for individual investors, is released today. There is still time to register to have your book signed at the Barnes & Noble on 555 5th Ave. in New York City on Tuesday at noon ET. 4. Spotify founder Daniel Ek is leaving the CEO post after nearly two decades, the music-streaming company said Tuesday. Co-presidents Alex Norström and Gustav Söderström are moving up to become co-CEOs. Ek will become executive chairman. Separately, Goldman Sachs downgraded Spotify to hold from buy with a price target of $770, up from $765, citing a balanced risk-reward for shares heading into the company’s Q3 earnings on Nov. 4. 5. Bank of America said you can now buy miner Freeport-McMoRan , noting the worst is in the stock. The stock has fallen nearly 17% since last Wednesday, when the company announced a tragic mud rush earlier this month at one of its copper and gold mines in Indonesia; two workers have been found dead, and five remain missing. 6. Boeing is working on a new single-aisle airplane that would eventually replace the 737 Max, The Wall Street Journal reported . It’s very early in the process, the paper said, so it’d be years before hitting the skies. Still, it is a notable development in the tenure of CEO Kelly Ortberg, who was hired to fix the company’s manufacturing and financial issues. 7. Futures for both cattle and coffee are having down months after parabolic moves that added inflationary pressure. Is this the beginning of the big rollover? Restaurant chains like Texas Roadhouse , which we own for the Club, sure could use relief on beef prices. 8. BofA downgraded Oklo , which makes advanced micro-nuclear reactors , to a hold on valuation. While the firm said it remains positive on the long-term nuclear theme, the whole thesis of small modular reactor adoption is ahead of itself. Agreed: This thing is out-of-its-mind expensive in my point of view. 9. Nvidia price target raised to $250 from $230 at KeyBanc, reiterated buy rating. Keep in mind that the OpenAI deal with Etsy and Spotify is going to be the first big monetization of artificial intelligence. 10. KeyBanc raised its price target on custom chipmaker Broadcom to $420 from $400, seeing increased orders. The analysts cited Broadcom maintaining “100% share of the Google TPU franchise through 2026.” However, I think the narrative of the custom chip assault on Nvidia is overblown. 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.
