Jim Cramer’s top 10 things to watch in the stock market Tuesday

1. Unwinding of the Great Carry Trade of Japan … or not. One factor playing a role in the sell-off Monday was the unwinding of the popular “carry trade” strategy that seeks to profit on interest rate differentials. We took advantage of the volatility to put cash to work in quality U.S. stocks that were being dragged down. On Tuesday, the Nikkei 225, which had its largest decline in the previous session since the 1987 Black Monday crash — rose more than 10%.

2. Uber reported much better-than-expected results for the second quarter: EPS of 47 cents vs. consensus estimate of 31 cents, according to LSEG; $10.7 billion vs. $10.57 billion expected. The stock rose 6% in pre-market trading.

3. Google loses case but wins the war? A federal U.S. judge ruled Monday the company has illegally held a monopoly in search and text advertising, with the court focusing in on the Alphabet company’s exclusive arrangements on Android and Apple devices. Barclays sees both Google and Apple as losers from the ruling. I don’t buy that. Google said it plans to appeal. Both Google and Apple are longtime Club holdings.