Jim Cramer's top 10 things to watch in the stock market Tuesday
CNBC • • general
Key Points:
- U.S. stocks are expected to open higher on Tuesday, with the S&P 500 and Nasdaq recovering after a significant selloff, supported by lower oil prices and bond yields despite concerns over large share sales from the SpaceX IPO and megacap stock sales linked to AI spending.
- The SpaceX IPO is highly oversubscribed, with institutional investors placing orders worth $10 billion; institutional orders close Wednesday, while retail orders remain open, and trading is set to begin on Friday.
- OpenAI has confidentially filed for its IPO, following a March valuation of $852 million, with expectations of a valuation potentially exceeding $1 trillion; Anthropic has also secured a $35 billion debt deal to fund AI growth and filed for its IPO recently.
- Amazon issued $10 billion in Canadian dollar bonds, marking the largest corporate debt offering in that currency, while Alphabet’s price target was raised by TD Cowen to $475 amid expectations of rising earnings and Google Cloud margin improvements.
- China plans to invest $295 billion over five years to build AI data centers nationwide, aiming to enhance digital infrastructure and compete with U.S. tech capabilities; meanwhile, GSK announced a $10.6 billion acquisition of Nuvalent, boosting Nuvalent shares by nearly 39%.