My top 10 things to watch Tuesday, July 7 1. Mixed picture for stocks this morning. Dow futures are up 130 points, while selling in chip stocks has the tech-heavy Nasdaq set for a sharply lower open. S & P futures are modestly lower. Oil is up 1% on reports of commercial vessels being attacked by Iran in the Strait of Hormuz. 2. SpaceX officially joins the popular Nasdaq 100 index today, thanks to the new fast-track entry process. Billions of dollars in passive flows will come its way. Plus, quiet periods are ending for banks that worked on last month’s blockbuster IPO, so we’re met with a flood of analyst initiations. I count at least 18 buy ratings, including at Goldman Sachs and Morgan Stanley, which were lead underwriters on the offering. MoffettNathanson is out with a hold, citing valuation and orbital data center concerns. 3. Samsung Electronics shares pulled back 7% in South Korea’s session after the chipmaker’s preliminary earnings report showed an extraordinary lift from the AI spending boom. Second-quarter operating profit growth of more than 1,800%. Sales more than doubled. Were these results not enough? Typical profit-taking when a stock has surged into the print? Or is it related to rival SK Hynix’s upcoming $28 billion listing in the U.S.? We can’t really tell. 4. China’s DeepSeek is working on a custom AI processor, Reuters reported. The chip is said to be targeting the day-to-day use of AI models, known as inference, rather than training. DeepSeek’s goal is to lessen its reliance on chips from Club name Nvidia and China’s Huawei. Here we go again . Yet another report perceived as negative for Nvidia. Long knives are out. 5. The bear case against Meta Platforms and its aggressive AI spending has gone too far, argued analysts at Canaccord Genuity. And I agree now that Meta has signaled it’s developing plans to sell its excess AI compute. While we still need more details on the exact plan, this is the smart thing to do to generate a short-term return on investment. 6. Walmart announced it’s lowered prices on beef and other go-to items for summer grilling season. This is good news on the inflation front, coupled with falling gas prices. Walmart shares have pulled back 18% since their mid-May peak, but that looks like an opportunity to me. Retailers with reputations for good deals are right for this moment. Going to take a closer look at this one tonight on “Mad Money.” 7. JPMorgan hiked its price target on Club name Eli Lilly to $1,400 from $1,300, implying roughly 16% upside. Kept a buy rating and top-pick designation. Lilly will report second-quarter earnings on Aug. 5, and analysts expect a strong print partially fueled by international sales of Mounjaro, one of its blockbuster GLP-1 drugs. Mounjaro’s overseas strength has been a surprising positive in recent quarters. 8. Vertex Pharmaceuticals said it will buy Crinetics Pharmaceuticals for roughly $10 billion in a deal to acquire treatments for rare hormonal diseases. The companies expect the deal to close in the third quarter. Shares of Crinetics nearly doubled this morning, while Vertex fell roughly 1%. Biotech stocks have been hot since the FDA’s leadership shakeup in May, and the potential for more takeovers in the space is why they can keep running. 9. Fiserv is up more than 5% this morning after the Wall Street Journal reported that the company has held talks with big banks to sell its debit card network. Club name Wells Fargo , JPMorgan Chase and Bank of America are among the firms that have held preliminary talks in recent months, the Journal said. The potential acquisition would allow lenders to get around the federal debit-card fee caps. Wells Fargo reports earnings next one week from today. Need to see improvement after two lackluster quarters in a row. 10. D.R. Horton was upgraded to buy from hold at Zelman & Associates, a respected research shop focused on the housing industry. Good sign for the group? These beaten-up stocks have been acting better since mid-May. Likely not a coincidence that it coincides with a peak in the 30-year mortgage rate . If that keeps trending lower, the homebuilders and stocks like Club name Home Depot should benefit. 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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Jim Cramer’s top 10 things to watch in the stock market Tuesday
Jul 7, 2026
