Jim Cramer's top 10 things to watch Thursday, July 2
- The June jobs report came in weaker than expected, with nonfarm payrolls up 57,000 versus the Dow Jones consensus of 115,000. Stock futures are strengthening in response, and the yield on the Fed-sensitive 2-year Treasury is falling. The market is taking this as a sign that the central bank won't need to be as hawkish near term. Oil continues to fall, which eases the inflationary pressures, too.
- OpenAI has considered giving the U.S. government a 5% stake in the company, the Financial Times reported. Part of CEO Sam Altman's argument is that this would help the public share in the upside of AI.
- Palantir was upgraded to buy from hold at DA Davidson with a price target of $175 implying almost 40% upside for the stock.
- Nvidia is introducing a new business model for fast-growing AI startups, offering quick access to compute power in exchange for a piece of future revenue.
- Meta is down a few bucks this morning as the market chews on news that it's planning a cloud business to sell AI computing power.
- BMO Capital started coverage on Honeywell Aerospace with a buy and a $276 price target, implying roughly 21% upside.
- Goldman Sachs loves the airlines as fuel prices come down, raising its price targets on Delta Air Lines and United Airlines.
- DuPont's price target was nudged up to $170 from $168.
- Bank of America increased its General Mills price target to $39 from $36, but kept the stock at a hold.
- Cardinal Health's price target was upped to $260 from $240.
