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

Sep 3, 2024
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My top 10 things to watch Tuesday, Sept. 3

1. Wall Street is on track to start the holiday-shortened trading week lower. Jobs data will be a key driver of the action in the days ahead, with the August nonfarm payrolls report due out Friday morning. The S&P 500 in August recorded its fourth straight monthly gain, despite a turbulent start to the month.

2. Goldman Sachs pulled Dollar General from its so-called Americans Conviction List, while Barclays slashed its price target on the stock to $102 from $154. Just a really bad situation for the discount retailer, which cut its full-year guidance last week. I think Walmart’s success is partly to blame for Dollar General’s struggles.

3. Wells Fargo downgraded Boeing to a sell-equivalent underweight rating. The analysts say Boeing’s free cash flow per share could peak by 2027, as plane development costs offset additional product growth, and suggest that the troubled company may need to do a dilutive equity raise. It’s good to see analysts start dealing with Boeing’s weaker cash flow problem.

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