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My top 10 things to watch Friday, Nov. 1 1. Wall Street is headed for a higher open Friday as the market looked past a weak jobs report. Still, the major averages are all lower for the week, with the heaviest losses for the tech-heavy Nasdaq Composite , which is down more than 2% through Thursday. The yield on the 10-year Treasury note is taking a breather from its recent climb, but still hovered above 4.2% on Friday. 2. The U.S. economy added just 12,000 jobs in October, well below the Dow Jones estimate of 100,000. The report seems to confirm expectations that this would be a noisy print due to the ongoing Boeing strike and the hurricanes that caused damage across Southeastern states. The unemployment rate was unchanged at 4.1%, matching expectations. 3. Amazon posted a solid beat and raise Thursday after the bell. Europe inflecting, costs going lower, headcount down for two years, promotions working, artificial intelligence hitting, soon Alexa who will be a real understanding pal. Huge amount of advertising. Cloud unit AWS hitting on all cylinders. Prime Days are real hits, goal is to fight inflation. On top of all that, the fourth-quarter forecast was exactly what was needed to keep investors happy. Shares rose more than 7% in after-hours trading. 4. Apple late Thursday delivered a quarter that better than feared. The questions for the iPhone maker are myriad, chief of which is why were projections for the forecast so high? Apple was doomed to fail because the real issue wasn’t this quarter when it comes to guidance, it was next quarter. Expectations were too high because of the staggered rollout of AI, along with China which wrecked everyone. But India is coming on and service revenue at $100 billion a year. Europe very strong. Why was this stock at $228? What clueless person was buying it? CEO Tim Cook says it might be the end of the hardware cycles. 5. Intel : The bottom is in. It has the money. It is now here to stay, even as it missed AI. The chipmaker reported better-than-expected earnings and issued uplifting guidance on Thursday, sending the stock up 7%. 6. Comcast trial balloon: Mike Cavanagh, the company’s president, on Thursday said it is considering separating out its cable networks during the company’s third-quarter earnings call with investors (Comcast is CNBC’s parent company, and CNBC is one of the cable networks). It could be a pure broadband and theme park play, perhaps with money from cable? The end of the bundle and the beginning of getting Nightly News through Peacock, which becomes a sports and news channel with the Olympics. Multiple price target boosts because broadband losses will now moderate. 7 . Mastercard is a $500 billion company with so much happening that is good — the star of fintech? No credit risk. The company on Thursday posted adjusted EPS in the third quarter that topped Street expectations. 8. Estee Lauder downgraded to hold from buy at JPMorgan — worst in show. The first real casualty of the China denouement. 9. Abbott Labs won in its latest trial over allegations that its specialized premature infant formula causes an intestinal illness commonly abbreviated as NEC — despite the fact the judge in the case, held in the 22nd Judicial Circuit of Missouri, did not allow jurors to hear a statement from major U.S. health agencies backing Abbott and the formula. Worth ten points easy. Shares of the health-care company rose 5% after the news. 10. Goldman removes Enphase from its conviction buy list. There is only one solar stock worth buying: Club name Nextracker , which had a blowout quarter this week. Election risk remains something to watch for the group. 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.
Apple’s iconic Fifth Avenue store is illuminated with iOS 18 colors as the new iPhone 16 series sale kicks off, in New York on Sept. 20, 2024.
Fatih Aktas | Anadolu | Getty Images
My top 10 things to watch Friday, Nov. 1
1. Wall Street is headed for a higher open Friday as the market looked past a weak jobs report. Still, the major averages are all lower for the week, with the heaviest losses for the tech-heavy Nasdaq Composite, which is down more than 2% through Thursday. The yield on the 10-year Treasury note is taking a breather from its recent climb, but still hovered above 4.2% on Friday.
2. The U.S. economy added just 12,000 jobs in October, well below the Dow Jones estimate of 100,000. The report seems to confirm expectations that this would be a noisy print due to the ongoing Boeing strike and the hurricanes that caused damage across Southeastern states. The unemployment rate was unchanged at 4.1%, matching expectations.
3. Amazon posted a solid beat and raise Thursday after the bell. Europe inflecting, costs going lower, headcount down for two years, promotions working, artificial intelligence hitting, soon Alexa who will be a real understanding pal. Huge amount of advertising. Cloud unit AWS hitting on all cylinders. Prime Days are real hits, goal is to fight inflation. On top of all that, the fourth-quarter forecast was exactly what was needed to keep investors happy. Shares rose more than 7% in after-hours trading.
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