My top 10 things to watch Wednesday, Nov. 19 1. The S & P 500 was headed for a higher open this morning as the index attempts to break its four-session losing streak. The Nasdaq , which has been down five out of the last six trading days, was also expected to open higher. Concerns about AI-related valuations continued to pressure megacap tech shares yesterday. Tonight, Nvidia’s quarterly earnings report will be in focus. 2. It’s Nvidia Day. When everyone is worried about something, then it isn’t as cataclysmic as when you are surprised about something. Nvidia is now perceived as the only taker in this entire market of AI situations. Nvidia CEO Jensen Huang will explain this evening why a company that buys chips sees a four times gain on those chips. After all, people think it’s the only one making money. It’s more complicated than that, though. 3. Alphabet seems unstoppable because it uses Nvidia. The same can be said for Xai, the artificial intelligence company started by Elon Musk. Amazon is considered stoppable because it doesn’t use enough Nvidia. Meta is considered vulnerable because OpenAI, which looks like a mortal enemy, is attacking it with a ton of Nvidia. Apple doesn’t even have a clear AI build out, yet. Rather than viewed as a casualty, the iPhone maker is the winner because someone will have to pay for access to its massive installed user base. 4. Wells Fargo cut its Home Depot price target to $400 from $435 after the home improvement retailer’s tough quarterly report on Tuesday. Increasingly, analysts are doubting the pro-related acquisitions Home Depot has made, too. I want to own the stock for the coming Fed interest rate cuts, which should jumpstart home sales and renovations. We added to our position yesterday after shares fell sharply. The Club stock was up 1% this morning. 5. That being said, Lowe’s is better than Home Depot. The company this morning posted a year-over-year sales increase, and now management expects full-year total sales to come in at $86 billion. That’s higher than prior expectations of $84.5 billion to $85.5 billion. Shares shot up more than 4%. Lowe’s did, however, lower its full-year outlook for profit some. 6. Club stock TJX rose roughly 3% this morning after the off-price retailer behind T.J. Maxx, Marshalls, and HomeGoods reported a strong third quarter. The company beat on sales and earnings and raised guidance. We’ll send out our full Club analysis of the quarter later today after management’s post-earnings conference call. 7. Target trimmed the top end of its full-year adjusted earnings-per-share forecast after sales dropped from last year and missed estimates. Shares were dropping more than 3% on the print. The stock trades at an undemanding 11.5 times forward earnings. Good price? Walmart , which reports tomorrow morning, trades at 35 times. 8. Constellation Energy got a $1 billion government loan to backstop the company’s plans to restart the Three Mile Island nuclear reactor. The stock rose 2.5% this morning. While practically meaningless given the restart costs, the loan reignites the “Year of Magical Investing” and moves the whole nuclear complex – especially Oklo whose stock jumped more than 7%. I say buy Club name Solstice , which was spun off of Honeywell last month. It’s the only real one. 9. Jefferies upgraded DoorDash to a buy from a hold rating, and hiked the firm’s price target to $260 from $220. Analysts say that the food delivery platform’s “strong execution and growth algorithm now appear underappreciated,” given the stock’s more than 26% year-to-date decline. Shares rose more than 2% early this morning. 10. Wells Fargo raised its Medtronic price target to $114 from $100 after the medical device maker hit it out of the park with quarterly results yesterday morning. Medtronic beat on earnings and revenue. Organic growth of 5.5% also exceeded estimates. That just might be the key metric here. The stock closed up more than 4.5% yesterday and was steady this morning. 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 Wednesday
Nov 19, 2025
