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

1. What does Kamala Harris mean for market? Good things vs. her predecessor. Vice President Harris was endorsed by U.S. President Joe Biden, who withdrew from the 2024 presidential race.

2. In the run up to Biden’s announcement Sunday, the biggest theme on Wall Street was the “Trump trade” and the recent rotation away from 2024 winners in technology toward small-cap and value stocks. In my Sunday column, I looked at where the market goes from here …

3. China on Monday unexpectedly cut its interest rates. Big deal, nothing can get that economy going.

4. Activist investment firm Elliott Management has taken a stake in Club holding Starbucks and is working with management to improve the company’s sagging share price, according to a Friday report in the Wall Street Journal. Is this meaningful for investors in the coffee chain giant? You bet.

5. Warren Buffett’s Berkshire Hathaway sold 33.9 million shares of Bank of America for $1.48 billion. After the sale, Berkshire owned about 999 million BofA shares. The stock sure took it well.

6. Citi opened a “30-day positive catalyst watch” on Nvidia stock heading into the SIGGRAPH 2024 conference, which begins July 28. Nvidia CEO Jensen Huang and Meta CEO Mark Zuckerberg are expected to discuss the future of AI. Will Zuck talk about not being able to fill demand for Meta’s AI sunglasses? First time anything like this has worked.

7. CrowdStrike fell another 4% in the premarket after Guggenheim downgraded the stock to a hold from buy. The analyst cites resistance to new deals with the cybersecurity company after last week’s global outage. BTIG also downgraded CrowdStrike, calling its software update error a “cardinal sin,” while Wells Fargo, Morgan Stanley, and Piper Sandler were among firms lowering their price targets. I continue to see Club holding Palo Alto as a winner here, but the market really hasn’t agree with me.

8. Goldman Sachs downgraded Lennar shares to neutral from buy. The analyst tries to distinguish LEN to the downside vs. homebuilder peer DR Horton, which went nuts last week after a so-so quarter. Lumber is also up big as people embrace a very ill-informed housing trade after it has already been embraced.

9. Abercrombie & Fitch upgraded to buy from neutral by JPMorgan analyst Matthew Boss. Have to ask: Now? Shares are down 20% since the company reported first-quarter earnings.

10. Comerica downgraded to hold from buy at Truist, which cites lower net interest income (NII) and lower fee income in 2025. This one is hated as much as PNC Financial Services is loved. Good trade there.

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