My top 10 things to watch Wednesday, April 29 1. S & P futures are basically flat ahead of one of the busiest and most consequential days of the year. The Federal Reserve is expected to keep interest rates unchanged this afternoon, followed by Chair Jerome Powell’s final news conference at 2:30 p.m. ET. Then, the earnings fireworks start after the bell, with Alphabet , Amazon , Meta and Microsoft all reporting. We own all four for the Club. Let’s go one by one. 2. Alphabet is regarded as the “can’t miss” of the group because of the seamless nature of going from Google Search to its Gemini chatbot; YouTube as an engagement and advertising juggernaut; and the fast growth of Google Cloud. Oh, and there’s also Waymo and the success of its custom silicon. 3. A few weeks ago, Amazon would’ve been the easiest to predict a positive market reaction, given the accelerating growth of its cloud unit AWS. But the stock has jumped over 30% from its March lows and closed at a record high Friday. So, they will have to talk about more than the success of its in-house Trainium chips. Need more info on Leo, its nascent satellite business . 4. Meta is considered a stepchild when it comes to AI prowess, but is that right ? Can the company talk coherently about how it is saving money and how the layoffs are working? Another topic is whether advertising is holding up despite the Iran war. Is it growing its share of the digital ad market? Any changes to its capex outlook? 5. Can Microsoft fend off disaster by showing that it recognizes that its AI assistant Copilot is not good enough and that it has a bloated cost structure? The company is planning its first-ever voluntary employee buyout, CNBC reported last week . Everyone also wants to know about its evolving relationship with OpenAI and what that means for its Azure cloud. Is enterprise software the loser because of AI coding tools? 6. Seagate reported a strong quarter that illustrated how the agentic AI era is driving demand for its data-storage technology. Top and bottom line beats, with even better guidance. That is how a stock that’s already rallied 600% over the past year is up another 16% this morning. However, the quarter also showed how ill-equipped Seagate is to meet all the demand for hard drives. 7. Starbucks shares are up almost 5% this morning. Should they be up more after the big same-store sales beat and full-year guidance raise? Plenty of price-target bumps, but no upgrades yet. We saw a lot of progress on CEO Brian Niccol’s turnaround strategy. Starbucks fixed throughput first with improvements to staffing levels and remodeled stores. Now let’s hope that goes international. 8. Robinhood is down over 11% after missing on earnings and revenue. They want to dance around a bad quarter and talk about how good April was. But I think the bad quarter was because of crypto weakness. Plus, the company has launched so many new products that it’s hard to keep up. Prediction markets. Credit cards. Wealth advisory. Trump Accounts. Seriously, what are the real priorities here? 9. Visa’s quarter was very strong. Limited disruption in the Middle East, $20 billion buyback, and a full-year guide of low double-digit to low-teens revenue growth. It was a classic quarterly beat and outlook raise, and the stock is soaring more than 5%. CEO Ryan McInerney said consumer spending remained resilient. 10. Biogen delivered quarterly beats on earnings and revenue. Shares are up 2%. The company’s Alzheimer’s drug Leqembi was better, with quarterly global sales up 75% year year. Forward guidance for full-year earnings was a bit messy due to Biogen’s pending acquisition of Apellis Pharmaceuticals . Revenue guide was reaffirmed. 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.
Jim Cramer’s top 10 things to watch in the stock market Wednesday
Apr 29, 2026
