My top 10 things to watch Thursday 1. Stock futures are lower this morning. Oil is rebounding after strikes in Iran. The Fed’s preferred inflation gauge, the PCE index, matched expectations with a 3.8% year-over-year increase. Yes, it’s a high number but at least it wasn’t hot. Big number for durable goods orders. Good sign for Club name Boeing ? I talked about all 33 of our Investing Club stocks on yesterday’s May Monthly Meeting , and even a few data center-tied ideas outside the portfolio. 2. Snowflake breaks out from the enterprise software group and is now more competitive with the private Databricks. Shares are soaring more than 35% this morning. Clear AI winner. It’s doing so by forming alignments with Amazon Web Services and just inked a $6 billion spending deal. Rerating underway for this cloud consumption AI story. 3. Salesforce showed strong growth in Agentforce and strong earnings growth last night, thanks in part to a monster buyback. They doubled down on expectations for a second-half acceleration, too. But sluggishness in Tableau and the commerce vertical are blemishes. The stock is down over 1.5% around $174. Still a beleaguered name. Wells Fargo cut its price target to $200 from $210. 4. Marvell delivered amazing numbers, but it has been amazing stock. Accelerating revenue in data center chips. The optical business here is also incredibly strong. The real trick for many of these companies is simply to get the parts supplies to meet the outrageous demand. Just an incredible story. Shares are up 3.5% on the print. 5. D.A. Davidson hiked its Micron price target to $1,500 from $1,000, implying 60% upside. Why not go to $2,000? Analyst Gil Luria asks: Why do the CPU stocks like Advanced Micro Devices and Intel trade at such a big valuation premium to memory chipmakers? He makes the case that memory is becoming less of a commodity in the AI era. 6. HP has been written off by the analyst community, but it had a nice upside surprise last night and the analysts are scrambling on how to catch up. TD Cowen hiked its price target on the laptop maker to $26 from $20 on its better-than-expected second quarter. JPMorgan took HP to $26 from $22, while Citi raised to $25 from $20. 7. Dell reports earnings tonight. I think you get strong numbers from the company. Mizuho upped its price target to $350 from $300 ahead of the release. Analysts raised targets across the semiconductor space as AI memory demand soars. Dell shares are up more than 4% to around $318. 8. Meta is starting to sell subscriptions for its AI chatbot in a bid to offset its spending. Basic tier for $7.99, with a premium plan costing $19.99. They’re also rolling out their Facebook, Instagram and WhatsApp subscriptions globally. Also, don’t sleep on this headline : CEO Mark Zuckerberg said a Meta cloud computing business is “definitely on the table” if they have excess capacity. 9. Neocloud Nebius keeps its hot streak going. Shares are up another 9%-plus after already doubling over the past three months. Latest catalyst: a hedge found founded by former OpenAI researcher Leopold Aschenbrenner disclosed a 5.6% stake. Aschenbrenner’s Situational Awareness has become a closely watched fund thanks to a number of great calls in the past year. 10. Oppenheimer upgraded Quanta Services to buy from hold, pointing to exposure to power generation, underground delivery network modernization, and AI development. Quanta is the best builder of the actual structure of the data center. Club names Eaton and GE Vernova , as well as Caterpillar, Cummins and Modine are the ancillaries that people are buying. 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 Thursday
May 28, 2026
