My top 10 things to watch Wednesday, Jan. 7 1. Stocks were little changed this morning after the S & P 500 reached new highs. The index advanced yesterday as Wall Street brushed off concerns about the U.S. operation in Venezuela over the weekend. Meanwhile, the latest ADP data showed that American companies added a slightly lower-than-expected 41,000 jobs in December, reversing a loss of 29,000 in November. 2. Alaska Air announced a big plan to buy Boeing jets. The order includes 105 yet-to-be-certified 737 Max 10s. Boeing is one of my favorite Club stocks. 3. Oil prices slid after CNBC reported that sales of Venezuelan crude will continue indefinitely. President Donald Trump said last night that Venezuela will turn over 30 million to 50 million barrels of sanctioned oil, which will be sold at market prices. But that is only the first tranche of sales. Sources close to the White House also told CNBC’s Brian Sullivan that sanctions will be reduced. Valero Energy and Phillips 66 jumped more than 4% and 3%, respectively. 4. Oppenheimer sees a breakout opportunity for the embattled restaurant group in 2026, including Texas Roadhouse . The analysts increased their price target to $185 from $170 and kept their hold rating. Barclays, meanwhile, raised its Starbucks price target to $110 from $95 and maintained its hold rating. That’s good news for both Club names, whose stocks have been struggling. 5. Piper Sandler downgraded Decker Outdoors to a sell from hold after the stock recovered more than 30% since early November. The analysts cut their price target on the owner of the Hoka and UGG brands to $85 from $100. They worry about Decker leaning into promotions. We own Nike and need competitors Hoka, New Balance, and On to falter. I believe in Nike CEO Elliott Hill’s turnaround plan. 6. Cannacord raised its price target on Club holding Alphabet to $390 from $330 and kept its buy rating. The analysts pointed to the rapid scaling of the Gemini AI model, which is driving Search traffic, as the basis for their conviction in the stock. Cannacord also highlighted the company’s investment in cost-efficient, specialized chips that support growth in its cloud business. Despite being cautious about the stock’s recent 78% six-month run, analysts say Alphabet’s long-term prospects remain strong. 7. UBS assumed coverage of Club holding Eli Lilly with a buy and price target of $1,250, up from $1,080. Analysts cited the pharma company’s continued leadership in obesity drugs. UBS issued the same rating on peer Vertex Pharmaceuticals . Meanwhile, Amgen gets upgraded to buy from hold at the firm. Amgen is always consequential at JPMorgan’s upcoming health-care conference, which I’ll be at next Monday and Tuesday. 8. A lot of Wall Street calls on homebuilders. Lennar was downgraded to hold from buy at Citizens. Analysts, who don’t have a price target, said the company has at least two more quarters of inventory clearance, which could weigh on gross margins, sales, and earnings. Meanwhile, Barclays upgraded Lowe’s to a buy from hold with a $285 price target. It’s a good call on lower interest rates. In the Club’s case, we own peer Home Depot . 9. Barclays lowered its price target on Club name Eaton to $350 from $362 as part of its multi-industry outlook. Analysts, who kept a hold rating, still see a “firmer” demand outlook amid AI order strength. Barclays raised fellow Club holding GE Vernova ‘s PT to $830 from $800, while Dover’s PT was bumped up to $205 from $195. Wells Fargo, like everyone else, still hates Honeywell . The analysts, who maintained their hold rating, lowered their price target to $215 from $218, citing underwhelming estimates for industrial stocks in the first part of the year. 10. Four big banks get slapped with downgrades at Wolfe Research. JPMorgan , Bank of America , U.S. Bancorp , and M & T Bank were all cut to holds from buys. Analysts expect the group’s performance to be “less sanguine” in 2026 after money center names rallied 40% last year. For the Club, we own Wells Fargo and Goldman Sachs . I keep saying that we are in a new era for banks, with higher price-to-earnings multiples, like those seen in the early 2000s. We may need to take action on Goldman stock. 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. 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