My Top 10 Things to Watch for Thursday, December 12 1. The Nasdaq looked slightly lower on Thursday after closing above 20,000 for the first time in the previous session. The high-tech index rose nearly 1.8% on Wednesday, boosted by closes in Tesla and Klub names Amazon, Meta Platforms and Alphabet. The S & P 500 closed nearly 1% higher. The Dow, however, fell for the fifth consecutive session. 2. A warmer-than-expected wholesale inflation report kept the lid on stocks. November’s producer price index rose 0.4% month-on-month and 3% over 12 months, compared with Dow Jones estimates of 0.2% and 2.6%, respectively. Traders were still betting on a quarter-point rate cut at the Fed’s policy meeting next week. 3. ServiceTitan was set to debut on Nasdaq on Thursday. The company provides cloud software to tradespeople such as Earth contractors, plumbers and painters. ServiceTitan’s initial public offering was priced above the expected range at $71 per share. 4. President-elect Donald Trump rings the opening bell at the New York Stock Exchange on Thursday. Is the stock market still a measure of a president’s performance? Has it ever been? One thing I do know is that Trump cares about the market more than any other president. 5. Adobe shares sank 11% despite the Photoshop owner’s quarterly numbers. It was a mild prediction that investors were focusing on. I’m starting to believe that the competition is getting too high, and at the same time, Adobe’s creative suite is too expensive. 6. The Financial Times took an in-depth look at new use cases for GLP-1, including drug and alcohol cravings. They are also looking into treating Parkinson’s and Alzheimer’s. GLP-1s have been approved and marketed for diabetes and weight loss. Novo Nordisk and Club name Eli Lilly are the main ones. 7. Elon Musk, head of the Trump administration’s new efficiency efforts, tweeted: “Nothing would do more to improve the health, life expectancy and quality of life of Americans than making LPG inhibitors very low cost to the public.” Trump chose RFK Jr. to lead HSS. The statement appears to be at odds with the weight loss drug critic. 8. Deutsche Bank raised its Constellation Brands price target by $1 to $260 per share. Kind of a silly point. The liquor market is turning around. Mexican beer is the name of the club with an excellent beer table. But there is also the risk of tariffs, with Trump proposing 25% tariffs on Mexican imports. 9. Evercore ISI raised its Lowe’s price target to $290 per share from $270 and maintained its in-line hold rating. Bernstein hit $304 and exceeded his buy. Analysts at both stores are positive on the stock. Lowe’s CEO Marvin Ellison will appear on “Mad Money” Thursday evening. The club owns rival Home Depot. 10. TD Cowen raised its Amazon price target to $265 per share from $240 and maintained its buy rating. Analysts name Amazon the top pick for 2025 as they see more upside in a stock that just closed at an all-time high and is up more than 50% year-to-date. Sign up for my free Top 10 Morning Thoughts on the Market email newsletter (See the full list of Jim Cramer’s Charitable Trust stocks here). As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert. Before Jim made the trade. Jim will wait 45 minutes after sending a trade alert before buying or selling a share in his charitable trust portfolio. If Jim has talked about a stock on CNBC TV, he will wait 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTMENT CLUB INFORMATION IS PURSUANT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY, SUBJECT TO OUR DISCLAIMER. NO FIDUCIARY OBLIGATION OR OBLIGATION IS CREATED, OR CREATED, FOR ANY INFORMATION ENTERED INTO WITH THE INVESTMENT CLUB. NO SPECIFIC RESULTS OR PROFITS ARE GUARANTEED.
A trader works at the New York Stock Exchange (NYSE) next to a US flag after Republican Donald Trump won the US presidential election in New York, US, on November 6, 2024.
Andrew Kelly | Reuters
Top 10 things to watch on Thursday, December 12
1. The Nasdaq Thursday was modestly lower, after closing above 20,000 for the first time in the previous session. The high-tech index rose nearly 1.8% on Wednesday, driven by record closes. Tesla as well as Club names Amazon, Meta platformsand the alphabet. The S&P 500 closed nearly 1% higher. The Dow, however, fell for the fifth consecutive session.
2.Hotter than expected wholesale inflation report kept the stock lid. November’s producer price index rose 0.4% month-on-month and 3% over 12 months, compared with Dow Jones estimates of 0.2% and 2.6%, respectively. Traders were still betting on a quarter-point rate cut at the Fed’s policy meeting next week.
3. ServiceTitan was ready for release Thursday on the Nasdaq. The company provides cloud software to tradespeople such as Earth contractors, plumbers and painters. ServiceTitan’s initial public offering was priced above the expected range at $71 per share.
