My top 10 things to watch Tuesday, May 12 1. The market was on track for a weak open even before this morning’s April consumer price index came in hotter than expected. CPI was up 3.8% on an annual basis versus 3.7% expected. The core rate, which backs out volatile food and energy prices, was a touch warm at 2.8% versus the 2.7% consensus. This is a setback for Fed interest rate cut hopes. 2. Nvidia’s Jensen Huang is not on the list of CEOs going to China with President Donald Trump . He told me last week on “Mad Money” that if he was invited, it would be a “great honor” to represent the U.S. on the trip. So, I take it Jensen wasn’t asked. Is the administration too worried about chip smuggling? It’s great to see Boeing CEO Kelly Ortberg is going and a big plane order for the Club name may be in store. 3. We finally hear from Nvidia this earnings season next Wednesday. Sure, the stock closed at a record yesterday, but its 16% gain over the past month is nothing compared to the rallies in AMD and Intel . Wells Fargo likes the setup into the release, hiking its Nvidia price target to $315 from $265. The market worries this is as good as it gets for Nvidia, but analysts said the stock trading at under 20 times earnings on 2028 estimates is worth buying. 4. Mizuho hiked its AMD price target to $515 from $414. Analysts said that agentic AI continues to drive server demand. It’s one of the hottest stocks in the market. Can it stay hot? We’ll see. Shares are up over 114% year to date, versus the S & P 500 ‘s roughly 8% advance. 5. In the same note, Mizuho increased its Super Micro Computer price target to $36 from $30, citing strong demand for AI servers. Not sure I’d touch this one. This is a fraught stock because of the company’s ties to China. Super Micro tanked earlier this year after employees were charged with smuggling Nvidia chips into the country. 6. Strong quarter from Qnity Electronics this morning, boosting the Club stock more than 3%. The supplier of materials used to make and package chips delivered a beat-and-raise. Organic sales grew 17% thanks to the AI boom. Qnity’s more than 87% advance this year set a high bar. This one is still unheralded. 7. Bullish call on Corning as Mizuho took its price target to $220 from $190. Analysts forecasted free cash flow growth into 2030 despite higher capital expenditures. Mizuho also pointed to updates in Corning’s long-term financial targets made last week. We raised our PT on the glass maker to $200 from $180 on that news and the big optical partnership with Nvidia. 8. Nelson Peltz’s Trian is trying to put together a take-private bid for Wendy ‘s, which is struggling and battling lots of executive turnover. Peltz has a long history here: 17 years as chairman before stepping down in 2024 . Trian already owns about 16% of the fast-food chain and flirted with a takeover a few years ago. 9. Bank of America predicted that soaring gas prices could start to “weigh more meaningfully on the consumer” in the coming months if there’s not a relief at the pump. Still, analysts said that credit card spending has some room though. More credit card spending would be a positive for Club name Capital One. 10. Costco got a price target to $1,192 from $1,170 at Bernstein. The retailer and others like it should see an increase in comparable sales due to stimulus from the “One Big Beautiful Bill Act,” analysts said. Fuel pressures and broader inflation may offset some of the bill’s benefits. When people want value, they go to Costco, as its April sales showed . 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 Tuesday
May 12, 2026
