Top 10 things to watch Wednesday, Nov. 27 1. Wall Street was little changed Wednesday as investors awaited the Fed’s favorite inflation gauge. The personal consumption expenditures price index, normally out at 8:30 a.m. ET, will be released at 10 a.m. ET due to the holiday. The stock market is closed Thursday for Thanksgiving and closes early Friday. The Dow and S & P 500 on Tuesday closed at records. The Nasdaq also gained ground and inched closer to eclipsing its record close on Nov. 11. 2. CrowdStrike delivered a very good quarter after Tuesday’s closing bell, with management raising its full-year outlook on sales, operating income, and earnings. Nonetheless, shares of the cybersecurity firm sold off more than 3% on profit-taking. In our earnings commentary, we said to buy the dip. We raised our price target and so did many Wall Street analysts. Wells Fargo and RBC, however, cut their PTs. 3. Dell shares sank more than 12% after the personal computer maker issued guidance short of expectations. Despite beating the reported quarter, Dell’s segment including PC sales missed. The segment including AI server sales basically matched quarterly estimates. 4. HP stock dropped more than 7% after management issued disappointing guidance. Quarterly earnings matched estimates and revenue beat. HP’s personal computer segment missed estimates while printers beat. Despite the outlook concerns, the stock received a handful of price target increases from Wall Street analysts. 5. President-elect Donald Trump rounded out his economic team, picking Kevin Hassett to lead the National Economic Council, which helps coordinate policy. During Trump’s first administration, Hassett served two years as the chairman of the Council of Economic Advisers, which provides analysis of the health of the economy. 6. Mortgage rates dropped last week, pushing home loans for purchases up 12% week over week and 52% year over year. When people buy houses, they fix them up and fill them up with big-ticket items like appliances and home theater systems. That’s why these numbers are a step in the right direction for Club names Best Buy, Stanley Black & Decker , and Home Depot . 7. Best Buy shares were steady Wednesday morning after their nearly 5% post-earnings drop in the previous session. We knew the quarter and guide would probably be weak. Jim Cramer said he would buy more shares if they were to drop into the $70s. We cut our price target, though, as did many Wall Street analysts. 8. Sales of foreign-branded smartphones in China, including Apple’s iPhone, fell 44% year over year in October. That’s according to data from a Chinese government-affiliated research firm. Club name Apple has yet to pick a Chinese partner for its artificial intelligence features in China. The Financial Times reports that it could be an uphill battle on the AI front. 9. Citi increased its Salesforce price target to $368 per share from $290 but kept its neutral rating. The analysts cited positive customer feedback on Agentforce, the Club holding’s AI agents. Salesforce is set to report earnings on Dec. 3. Shares have soared more than 30% since its Dreamforce product showcase in mid-October. 10. We’re entering the holiday season, an important period for movie companies. Club name Disney ‘s Thanksgiving tentpole is “Moana 2,” which is expected to debut with $120 million and $150 million of domestic ticket sales through Sunday. “Wicked,” from Comcast’s Universal and Paramount ‘s “Gladiator II” are both in their second week at the box office. Comcast owns NBC Universal and CNBC. — CNBC’s Zev Fima contributed to this report. 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.
Top 10 things to watch Wednesday, Nov. 27
1. Wall Street was little changed Wednesday as investors awaited the Fed’s favorite inflation gauge. The personal consumption expenditures price index, normally out at 8:30 a.m. ET, will be released at 10 a.m. ET due to the holiday. The stock market is closed Thursday for Thanksgiving and closes early Friday. The Dow and S&P 500 on Tuesday closed at records. The Nasdaq also gained ground and inched closer to eclipsing its record close on Nov. 11.
