Jim Cramer's Top 10 Things to Watch: September 10

My top 10 things to watch Thursday, Sept. 10

1. Futures fell as U.S. oil prices jumped to more than $100 a barrel. Producer prices rose 0.4%, in line with estimates. The consumer price index is out on Friday. Both measures should figure into what the Fed will do at its interest rate vote Sept. 16.

2. It's a great time to be opportunistic. Our September Monthly Meeting for Investing Club members is at noon ET, when I'll discuss the state of the markets and reveal 6 names to buy right now. Time to join the Club.

3. HSBC raised the price targets for its healthcare group, including Club names Johnson & Johnson and Eli Lilly, arguing that strong pipeline updates and a lower sector risk premium. I also named Lilly one of my favorite "fantasy picks" on Mad Money this week. HSBC also raised AbbVie, Bristol Myers, Pfizer, and Merck.

4. Meta upgraded to a buy from hold at JPMorgan and raised its price target to $820 from $640. The analysts said the stock still has meaningful upside potential, given it's in the early stages of releasing frontier models and AI-driven products beyond advertising. We agree: Shares still look cheap and are worth a look.

5. Jersey Mike's Subs price target lifted by a buck to $27 at Bernstein. I see a clear path here to much higher prices, as CEO Charlie Morrison told me last night about tripling the number of domestic stores and going overseas. This could be the next big chain. Great franchiser.

6. Bernstein initiates FedEx Freight with a hold and a mixed view, talking about higher-than-expected costs and growing pains from the spin-off. I see the stock's recent slide as having less to do with the company's fundamentals and more to do with concerns over tariffs and high oil prices.

7. Latham & Watkins, the nation's second-largest law firm, bought its own Nvidia GPU servers and started customizing its own AI models not using OpenAI or Anthropic, according to a Financial Times report. Rene Mendoza, the firm's chief information officer, said they don't want to put their client information on any cloud vendor's platform.

8. The yield gap between the 10-year Treasury in the U.S. and China is the largest ever: 3.17 percentage points, the FT reported. Remember, bond selling pushes yields up due to their inverse relationship. The 10-year yield rose to over 4.9% this morning to its highest level since November 2023.

9. KeyBanc lowers Casey's General PT to $780 from $970. This was not a terrific quarter, even as the company beat earnings expectations. Overall inside same-store sales at the convenience store chain increased 3.2%, down from 4.3% growth in the year-ago period and below the 4.1% consensus estimate. Shares fell 15%.

10. Wells Fargo lowers Kimberly-Clark's PT to $105 from $110, arguing the company's price-to-earnings feels less anchored as it works through its purchase of consumer health company Kenvue. We initiated a position in the paper products company this month and believe its added scale will allow it to lower its cost of goods sold and centralize some operations.