Jim Cramer's top 10 things to watch in the stock market Tuesday

My top 10 things to watch Tuesday, Oct. 24 1. U.S. stock futures rose Tuesday ahead of the first quarterly earnings reports from the mega-cap tech stocks. Look for our alerts following the announcements from Microsoft (MSFT) and Alphabet (GOOGL) after the bell. Here’s what we hope to see from Microsoft . 2. On Sunday, I laid out the five risks facing the stock market and cautioned this is not a Great Recession situation. We followed that column up with a look at the 5 ways we stay objective when investing during these periods of higher risk in the market. 3. Reuters reported that Nvidia (NVDA) is designing central processing units (CPUs) that would run in Microsoft’s (MSFT) Windows operating system, using tech from Arm Holdings (ARM). Nvidia making PC chips is of no consequence other than to hurt rival Intel (INTC). No big deal for NVDA. A positive for Arm shares. 4. Cadence Design (CDNS), a partner of Nvidia on AI, gives a less than rosy forecast for chip design. That is a false concern. It’s just not worth raising guidance in this environment. 5. Bitcoin breaking out on hopes of an approval for a Bitcoin ETF, crosses $34,000 to the highest level since May 2022. Won’t die … 6. With oil prices stabilizing, it’s time to consider oil stocks again after a quick decline in wake of lower commodity prices, despite the recent mergers of Exxon Mobil (XOM)/ Pioneer Natural Resources (PXD) and Chevron (CVX)/ Hess (HES). 7. General Electric (GE) rose more than 5% in the premarket after better-than-expected performance across all business lines. The industrial conglomerate also lifted its full-year guidance on increased demand for its aerospace unit. 8. Agricultural sciences company FMC Corporation (FMC) catches multiple downgrades and price target cuts after revising its Q3 and FY23 guidance. Destocking, mainly in Latin America, was greater than FMC had anticipated. Took Corteva (CTVA) down with it. 9. Jefferies drops the price target on identity management company Okta (OKTA) following the recent customer support breach headlines. This one is in trouble. Canaccord cuts PT, too. 10. Spotify (SPOT) shows the problems with this market. Shares of the streaming giant lost 2.5% in the premarket after its third-quarter earnings beat Wall Street expectations. Everything seems better and it doesn’t matter. 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.

Satya Nadella, CEO of Microsoft Corp., during the company’s Ignite Spotlight event in Seoul, Nov. 15, 2022.

SeongJoon Cho | Bloomberg | Getty Images

My top 10 things to watch Tuesday, Oct. 24

1. U.S. stock futures rose Tuesday ahead of the first quarterly earnings reports from the mega-cap tech stocks. Look for our alerts following the announcements from Microsoft (MSFT) and Alphabet (GOOGL) after the bell. Here’s what we hope to see from Microsoft.

2. On Sunday, I laid out the five risks facing the stock market and cautioned this is not a Great Recession situation. We followed that column up with a look at the 5 ways we stay objective when investing during these periods of higher risk in the market.

3. Reuters reported that Nvidia (NVDA) is designing central processing units (CPUs) that would run in Microsoft’s (MSFT) Windows operating system, using tech from Arm Holdings (ARM). Nvidia making PC chips is of no consequence other than to hurt rival Intel (INTC). No big deal for NVDA. A positive for Arm shares.

4. Cadence Design (CDNS), a partner of Nvidia on AI, gives a less than rosy forecast for chip design. That is a false concern. It’s just not worth raising guidance in this environment.

5. Bitcoin breaking out on hopes of an approval for a Bitcoin ETF, crosses $34,000 to the highest level since May 2022. Won’t die …

6. With oil prices stabilizing, it’s time to consider oil stocks again after a quick decline in wake of lower commodity prices, despite the recent mergers of Exxon Mobil (XOM)/Pioneer Natural Resources (PXD) and Chevron (CVX)/Hess (HES).

7. General Electric (GE) rose more than 5% in the premarket after better-than-expected performance across all business lines. The industrial conglomerate also lifted its full-year guidance on increased demand for its aerospace unit.

8. Agricultural sciences company FMC Corporation (FMC) catches multiple downgrades and price target cuts after revising its Q3 and FY23 guidance. Destocking, mainly in Latin America, was greater than FMC had anticipated. Took Corteva (CTVA) down with it.

9. Jefferies drops the price target on identity management company Okta (OKTA) following the recent customer support breach headlines. This one is in trouble. Canaccord cuts PT, too.

10. Spotify (SPOT) shows the problems with this market. Shares of the streaming giant lost 2.5% in the premarket after its third-quarter earnings beat Wall Street expectations. Everything seems better and it doesn’t matter.

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.

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