My top 10 things to watch Wednesday, Sept. 10 1. The S & P 500 and Nasdaq were set for strong opens this morning, boosted by Oracle ‘s blockbuster earnings report and a much cooler-than-expected wholesale inflation report. The S & P 500 and Nasdaq were coming off record highs in yesterday’s session. 2. The producer price index for August unexpectedly dropped 0.1%, well below the Dow Jones consensus of a 0.3% increase. That is the kind of number that supports a Fed interest rate cut at its meeting next week. We’ll see what the consumer price index has in store tomorrow. 3. Oracle shares were skyrocketing more than 30% this morning after revealing nearly a half-trillion dollars in contracted but not yet recognized revenue. A projection like that indicates that TikTok-parent ByteDance, OpenAI, Club name Microsoft , and Elon Musk ‘s xAI could all be buying. 4. Oracle’s numbers are moving chip stocks: AMD shares were up 4% this morning versus nearly 3% for Club name Nvidia . Oracle talked up how big its AI inference opportunity is, not just training. That’s why AMD is seeing more love. It’s viewed as being better for inference in terms of price performance. Nvidia disputes that. 5. Shares of Synopsys , Nvidia’s partner for the architecture of chips, were getting crushed this morning, down nearly 25% on a horrendous projection. Hurt by new export restrictions to China and problems at a major foundry customer, which Bank of America speculated could be Intel . BofA downgraded Synopsys to an underperform sell rating. 6. Don’t let Apple ‘s stock decline yesterday fool you: There were lots of good things announced at the iPhone launch event, most notably the slimmed-down Air. That sounds like a winner. Price hikes on some models were also positive. Shares of the Club holding often fall after the event — but a year later, that tends to look like a blip on the radar. Apple was modestly lower this morning. 7. Klarna is set to begin trading as a public company today. The buy-now-pay-later firm priced its IPO last night at $40 per share, above the expected range, valuing the Swedish company at about $15 billion. Priced higher at Klarna’s suggestion, perhaps to avoid the big pop? 8. GameStop shares were popping 9% this morning after the company delivered better-than-expected quarterly earnings and revenue. The original meme stock said its bitcoin holdings were valued at nearly $529 million at the close of the quarter. Hardware sales were up 31%, with collectables up 63% and software down 27%. 9. Big call: Jefferies raised its Reddit price target to $300 from $230. The analysts, who kept their buy rating, said the online forum could see over 35% upside to its fiscal 2027 revenue estimates. I think Reddit discussions show up constantly in AI chatbot queries. 10. Piper Sandler upped its price target on PNC Financial to $211 from $200 after the regional lender bolstered its coast-to-coast vision via an acquisition of Colorado-based FirstBank. Would portfolio name Wells Fargo consider a deal like this? 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.
