My top 10 things to watch Wednesday, Oct. 29 1. The biggest two days of 2025 begin. The Fed concludes its October meeting this afternoon and is expected to lower interest rates by another 25 basis points to a range of 3.75% to 4%. The post-announcement news conference with Fed Chairman Jerome Powell is also a must-watch for signs of the central bank’s next move. Plus, it’s the march of the megacaps, and longtime Club names. Microsoft and Meta Platforms report earnings after the bell, while Apple and Amazon report tomorrow evening. Ahead of all that, stock futures were higher this morning after the S & P 500 closed at another record high. 2. Apple, “own it, don’t trade it,” as I say. The iPhone maker’s stock went above a $4 trillion market cap yesterday but closed just below that level. Bank of America raised its price target to $320 from $270. The analysts think earnings could double between now and 2030. 3. After earnings, we raised our price target on our new holding and Apple partner Corning . We also added to our position after the shares declined despite a solid quarterly report — action we interpreted as profit-taking after a big run already this year. 4. Club name Boeing reported a big loss in the third quarter, including a charge due to 777X delays. Revenue for the quarter, however, beat estimates. The aircraft maker is on track for its highest deliveries since 2018, which helped the company go cash-positive for the first time in nearly two years. One more Club earnings report comes tonight: Starbucks . 5. President Donald Trump said he plans to bring up Nvidia’s “super duper” Blackwell AI chips during talks with Chinese President Xi Jinping tomorrow. Exports have prevented the AI chip leader from selling its most advanced chips to China. 6. Nvidia had a remarkable GTC conference in Washington, D.C. this week, where it announced new partnerships with several big companies, including fellow Club names Eli Lilly and CrowdStrike , as well as Nokia , and T-Mobile . Several Nvidia price target increases were announced this morning: Melius went to $300 from $275, UBS went to $235 from $205, and BofA went to $275 from $235. Nvidia shares were up again this morning, knocking on the door of a $5 trillion market cap. 7. Bloom Energy is part of the market’s “year of magical thinking.” The company makes boxes that fuel data centers with electricity via a chemical reaction (not combustion). It has been losing money for years, but arrived with huge clients and a great earnings report last night, including beats on revenue and EBITDA (earnings before interest, taxes, depreciation, and amortization). 8. Celestica also reported yesterday, and it is becoming the preferred supplier of Club name Broadcom for many things related to the data center. It makes some of its own parts and not just a contract manufacturer. That’s why shares are up more than 250% this year. Celestica stock also saw a big price target hike as Barclays raised to $357 from $220 apiece. 9. Nucor is being very conservative about its fourth quarter, but if we get rate relief from the Fed, it will be the cyclical stock to buy. Even as I don’t recommend cyclicals in “How to Make Money in Any Market,” Nucor is a special kind of cyclical, and it is supplying almost all the steel to the data centers being built in the United States. 10. Keefe Bruyette, a principal bear on Sofi , raised its price target to $20 from $18. The analyst fought this all the way and was backed by powerful shorts who are now overrun. The analysts still maintained a sell rating. Meanwhile, Barclays was forced to raise its price target to $23 from $21 apiece, but kept its hold rating. 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.
