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

My top 10 things to watch Monday, Aug. 7 1. Really hard for the stock market to rally with the prices on the 20-year Treasury falling apart, with the yield above 4.42%. The Magnificent stocks? I don’t think so. In my Sunday bulletin , what went “wrong” with Club stock Apple’s (AAPL) quarter. Wall Street is set to open modestly higher Monday after the S & P 500 and Nasdaq logged their worst weeks since March. 2. Friday’s report on below-forecast job growth in July and above-estimated wage growth didn’t really sway Fed expectations. Market odds on another interest rate hike this year are pretty low. But, there are two key inflation reports that could change things: Consumer prices Thursday morning and producer prices Friday morning. 3. Earnings season cools off a bit this week, with four Club names out. Coterra Energy (CTRA) reports Monday after the bell. Eli Lilly (LLY) reports Tuesday morning. Disney (DIS) and Wynn Resorts (WYNN) out Wednesday after the closing bell. After last week’s strong quarter, Jefferies raises price target on Pioneer Natural Resources (PXD) to $245 per share from $229. The analysts keep hold rating. 4. What’s going on with the cybersecurity stocks? We favor Palo Alto Networks (PANW), which fell 8% on Friday with rival Fortinet (FTNT). PANW stabilized Monday. Fortinet said companies are being more measured about their spending. I think that’s RIDICULOUS. I like the call at Barclays, which takes PANW price target to $275 from $245 and keeps overweight (buy) rating. The analysts say PAWN is on its way to a $100 billion valuation. Currently $66 billion market cap. 5. Bank of America, which has $550-per-share price target on Nvidia (NVDA), put out its earnings preview with the headline: “from shock-and-awe to consolidate-and-advance.” The analysts maintain their buy rating and top sector pick designation. Club name and AI powerhouse Nvidia reports quarterly results later this month. 6. Big Amazon (AMZN) price-target raise at Barclays to $180 per share from $140. The analysts keep overweight rating. There are more of these to PT hikes to come after a strong quarter for the e-commerce and cloud giant. 7. TJX Companies (TJX), the off-price retailer behind T.J. Maxx, Marshalls and HomeGoods, gets a price target boost to $88 per share from $80 at UBS. The analysts, who keep their neutral rating, expect the Club name to beat and raise when reporting quarterly earnings next week. 8. Block (SQ) gets price target bump to $90 per share from $85 at Mizuho. The analysts keep buy rating. The Square and Cash App company can do no wrong in the eyes of the Street, even as I thought it was a good, not great quarter. 9. Mizuho raises Robinhood (HOOD) price target to $15 per share from $14. This one is being rehabilitated on the Street even as most of its trading is options. The analysts keep buy rating. 10. Wayfair (W) neutral to buy UBS. This is how short squeezes are continued. This company caught everyone by surprise, like Carvana but with a better balance sheet. You have to watch how many buys there are versus how many still hate it. The stock is up 150% year to date. 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.

1. Really hard for the stock market to rally with the prices on the 20-year Treasury falling apart, with the yield above 4.42%. The Magnificent stocks? I don’t think so. In my Sunday bulletin, what went “wrong” with Club stock Apple’s (AAPL) quarter. Wall Street is set to open modestly higher Monday after the S&P 500 and Nasdaq logged their worst weeks since March.

2. Friday’s report on below-forecast job growth in July and above-estimated wage growth didn’t really sway Fed expectations. Market odds on another interest rate hike this year are pretty low. But, there are two key inflation reports that could change things: Consumer prices Thursday morning and producer prices Friday morning.

3. Earnings season cools off a bit this week, with four Club names out. Coterra Energy (CTRA) reports Monday after the bell.  Eli Lilly (LLY) reports Tuesday morning. Disney (DIS) and Wynn Resorts (WYNN) out Wednesday after the closing bell. After last week’s strong quarter, Jefferies raises price target on Pioneer Natural Resources (PXD) to $245 per share from $229. The analysts keep hold rating.

4. What’s going on with the cybersecurity stocks? We favor Palo Alto Networks (PANW), which fell 8% on Friday with rival Fortinet (FTNT). PANW stabilized Monday. Fortinet said companies are being more measured about their spending. I think that’s RIDICULOUS. I like the call at Barclays, which takes PANW price target to $275 from $245 and keeps overweight (buy) rating. The analysts say PAWN is on its way to a $100 billion valuation. Currently $66 billion market cap.

5. Bank of America, which has $550-per-share price target on Nvidia (NVDA), put out its earnings preview with the headline: “from shock-and-awe to consolidate-and-advance.” The analysts maintain their buy rating and top sector pick designation. Club name and AI powerhouse Nvidia reports quarterly results later this month.

6. Big Amazon (AMZN) price-target raise at Barclays to $180 per share from $140. The analysts keep overweight rating. There are more of these to PT hikes to come after a strong quarter for the e-commerce and cloud giant.

7. TJX Companies (TJX), the off-price retailer behind T.J. Maxx, Marshalls and HomeGoods, gets a price target boost to $88 per share from $80 at UBS. The analysts, who keep their neutral rating, expect the Club name to beat and raise when reporting quarterly earnings next week.

8. Block (SQ) gets price target bump to $90 per share from $85 at Mizuho. The analysts keep buy rating. The Square and Cash App company can do no wrong in the eyes of the Street, even as I thought it was a good, not great quarter.

9. Mizuho raises Robinhood (HOOD) price target to $15 per share from $14. This one is being rehabilitated on the Street even as most of its trading is options. The analysts keep buy rating.

10. Wayfair (W) neutral to buy UBS. This is how short squeezes are continued. This company caught everyone by surprise, like Carvana but with a better balance sheet. You have to watch how many buys there are versus how many still hate it. The stock is up 150% year to date.

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.