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

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My top 10 things to watch Monday, Jan. 8

1. Stock futures were lower this morning after the major averages started 2024 with a losing week, snapping a nine-week winning streak. In my Sunday column, I discussed how that breathtaking run-up since the November lows and the Fed pivot is unsustainable, and what to consider ahead of earnings season right around the corner.

2. Boeing shares are down 8% after the Federal Aviation Administration grounded 171 Boeing Max 737 9 planes after a door-sized plug blew out midair during an Alaska Airlines flight Friday night. What will be the impact? Remember only two companies. Spirit Aero made and installed the part, but Boeing had role in completing process, according to a Reuters report. Did Boeing do the right thing when if offloaded Spirit in 2005?

3. I’m out in San Francisco for the JPMorgan Healthcare Conference, where I’ll be speaking with lots of CEOs and execs. Deals are coming. Medical technology company Axonics, which provides treatments for overactive bladder and incontinence, is up 21% after agreeing to be bought by Boston Scientific for about $3.7 billion. Moderna sees return to sales growth in 2025, break even in 2026.

4. Investors are awaiting a decision from regulators on a spot bitcoin exchanged-traded fund. I think crypto could in for a major fall when approval is given.

5. Apple: How bad? Shares are trades like pre-announcement coming … but … it is still good on service revenue, according to Morgan Stanley.

6. First downgrade for the homebuilders: PulteGroup goes to hold from buy at Citi, citing valuation with upside from easing mortgage rates largely priced into the stock.

7. Club stock Wells Fargo downgraded to hold from buy at Baird. Analyst says curb your enthusiasm on U.S. banks following the group’s significant outperformance since late last year. Capital One dropped to hold from buy, American Express to sell from hold.

8. Old fintech: KeyBanc raises price targets for both Visa and Mastercard.

9. Morgan Stanley restored Delta as a top sector pick. The analyst also upgraded American Airlines to buy from sell, says U.S. airlines enter 2024 “looking to settle several scores” after navigating through several “black swan events” recently.

10. Wells Fargo switching on solar, wants residential buys not utility, so drops First Solar to hold from buy.

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