My top 10 things to watch Tuesday, July 28 1. Chip stocks remain under pressure after a nearly 11% drop in South Korea’s benchmark Kospi overnight. SK Hynix is down 4% in the U.S., dragging other semiconductor names down with it. Split market again: SK Hynix decline (bad); drops in oil and bond yields (good). That’s why Nasdaq futures are down nearly 1%, while the Dow is up almost 1%. 2. Oil is down again this morning on hopes that a pause in U.S.-Iran hostilities leads to an off-ramp in the Mideast conflict. President Donald Trump put aside plans for a “massive attack” that he threatened on Friday. Is Trump waiting for this week’s Fed meeting to be over, since lower oil prices bolster the case for no interest rate hike? 3. Bloomberg reported that prosecutors in Taiwan detained an Nvidia employee and searched the company’s office as part of a probe into alleged illegal exports of Super Micro AI servers into China. From frying pan to fire? The Club stock fell nearly 5% yesterday and is down slightly again this morning. Is the selling at last overdone? 4. Mixed bag from Club name Boeing this morning, but our thesis is still intact. The main blemish: a $280 million charge related to the troubled Air Force One program, which contributed to the earnings-per-share (EPS) miss. The biggest bright spot: positive free cash flow of $631 million, when the Street was looking for a cash burn of $177 million, per FactSet. Shares are up 1.5% premarket. 5. Club name Corning is getting crushed this morning despite the fiber optic cable maker reporting a top and bottom line beat. The likely culprit for the selling is guidance for the current quarter, which looks way too conservative to me. Weakness across the broader AI infrastructure trade isn’t helping, either. This one has been prone to extreme daily swings in recent months. 6. Shares of Johnson & Johnson are up more than 2% after the healthcare giant agreed to pay $5.5 billion to settle thousands of lawsuits alleging some of its talc products caused ovarian cancer. Club holding J & J said the claims were “meritless” but was willing to put the decade-long matter behind it. 7. Loop Capital started CrowdStrike at a buy with a $230 price target, implying nearly 28% upside from yesterday’s close. Analysts said the company has the ultimate next-gen agentic AI security platform and best-in-class security information and event management technology. Loop has a hold and $324 price target on our other cyber stock, Palo Alto Networks. 8. Citi cut its price target on Club name Capital One to $295 from $310 at Citi. Analysts pointed to higher assumed cost-of-equity after earnings last week. Still, they called Capital One one of the most attractive stocks within their coverage. I thought the recent quarter was decent, but the company’s business model transformation has been testing my patience. Hopefully, the payoff will be worth it. 9. Citi upped its Cadence Design price target to $420 from $400. Analysts cited the software firm’s solid beat-and-raise quarter and continued revenue momentum through 2027. This is packaging, which is one of the reasons why I like the three-legged stool of Club name Intel , which has packaging as well as chips and a foundry. 10. United Parcel Service beat on sales and earnings for the second quarter and raised its full-year 2026 guidance. UPS is moving away from low-margin shipments to more profitable ones. It will be interesting to see if the market regards this as a zero-sum game versus FedEx , which we own for the Club. 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
Jul 28, 2026
