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Jim Cramer’s top 10 things to watch in the stock market Friday

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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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