My top 10 things to watch Wednesday, March 12 1. Wall Street was heading for a higher open that kicked into a higher gear on cooler-than-expected consumer inflation data. The stock market has been slammed recently on economic worries about President Donald Trump’s tariffs. 2. February’s consumer price index rose 2.8% year over year. Core CPI, excluding food and energy prices, gained 3.1% year over year. Both numbers this morning were lower than expected. Wholesale inflation data is out tomorrow. 3. Tariffs went on today. Trump imposed 25% levies on steel and aluminum imports. The U.S. imports nearly 30% of our steel and roughly 80% of aluminum because we have high energy costs. The European Union retaliated . 4. Addressing CEOs at the quarterly meeting of the Business Roundtable, Trump said last night the tariffs he has already imposed are having a “tremendously positive impact.” 5. Following sliding bond yields, the average 30-year fixed-rate mortgage decreased last week to 6.67%. Home loan demand jumped , according to the Mortgage Bankers Association. 6. Bank of America says it’s time to buy Club name Nvidia ahead of the AI chip powerhouse’s GTC developers event next week. The analysts think the stock has dropped to a “very compelling price.” 7. Morgan Stanley cut its Club name Apple price target to $252 per share from $275. That still represents more than 14% upside to yesterday’s close. The analysts cited a $2 billion Chinese tariff impact and delayed Siri improvements. 8. The Chinese government held talks with Walmart after the U.S. retailer reportedly asked China suppliers to cut prices to offset tariff costs. That raises questions about how strong Walmart really is and is everything weak? 9. Guggenheim cut its Tesla price target to $170 per share from $175 and kept its sell rating. The analysts see Q1 deliveries dropping to 358,000 from 405,000. Wall Street consensus estimate is 420,000. 10. Club name Eaton was upgraded to a buy-equivalent overweight at KeyBanc following the power management company’s investor day. The analysts see Eaton’s recent stock decline as a “unique entry point.” 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.
My top 10 things to watch Wednesday, March 12
1. Wall Street was heading for a higher open that kicked into a higher gear on cooler-than-expected consumer inflation data. The stock market has been slammed recently on economic worries about President Donald Trump’s tariffs.
2. February’s consumer price index rose 2.8% year over year. Core CPI, excluding food and energy prices, gained 3.1% year over year. Both numbers this morning were lower than expected. Wholesale inflation data is out tomorrow.
3. Tariffs went on today. Trump imposed 25% levies on steel and aluminum imports. The U.S. imports nearly 30% of our steel and roughly 80% of aluminum because we have high energy costs. The European Union retaliated.
