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

My top 10 things to watch Thursday, Nov. 2 1. Josh Frost is a hero of money. The Treasury Department’s assistant secretary for financial markets released a report on Wednesday that outlines the government’s plan to manage the U.S.’s growing debt load. That includes selling more shorter-term notes (3- and 10-year) instead of the long-term ones (20- and 30-year) that are killing us. A cloud over the bond market has been lifted. 2. Stock futures are up following the Federal Reserve’s decision on Wednesday to keep the federal funds rate unchanged, as expected. Bond yields declined, with the benchmark 10-year Treasury shedding 8 basis points to 4.71%. 2. Qualcomm (QCOM) signals a bottom in handsets. “We are seeing early signs of stabilization in demand” for global 3G, 4G, and 5G. Qualcomm CFO Akash Palkhiwala said he expects 2023 handsets will be down mid- to high-single-digit percentage points compared to 2022, which is better than the company’s previous guidance. The wireless tech company reported fourth-quarter adjusted EPS of $2.02, beating the Street’s estimate of $1.92. Shares of QCOM gained 5.6% in the premarket. Great read-through to trust holding DuPont de Nemours (DD), which delivered a decent quarter Wednesday. The market is stabilizing … 3. Starbucks (SBUX) shares rose more than 5% after the coffee giant reported a top- and bottom-line beat Thursday. Same-store sales were up 8%, net sales jumped 11.4%. We will publish our detailed earnings analysis after the company’s conference call with investors this morning. 4. Shares of Etsy (ETSY) dropped after reporting an earnings miss Wednesday after the bell. CEO Josh Silverman says the retail environment has gotten very competitive with an emphasis on deep discounting, and unsustainable spending on marketing by competitors. GMS, which measures the total number of goods sold over a period of time, grew 1% even as active buyers were up 6%. 5. Airbnb (ABNB): I will take 18% growth, still feel this is the only game in town and spreading internationally. Company cites app changes for momentum, “scratching the surface” but “a little bit of softness in our overall kind of demand relative to Q3” — CFO David Stephenson. Shares of the vacation rental platform fell 1.7% in early trading. 6. Was Mondelez (MDLZ) best in show last night? I wonder because it pretty much put an end to the GLP-1 nonsense (diabetes and weight loss drugs) — not seeing it impact the snack company at all, called out Tate’s and Oreo, two real classic snacks that should have been hit. Organic sales and EPS beat. Remember, the GLPs do not discern between good and bad, it is volume. 7. Disney (DIS) buys rest of Hulu (33% stake) from Comcast (CMCSA) for $8.61 billion. Now it can consolidate Disney streaming with it. 8. Roku (ROKU) reports phenomenal growth, including ads, and says it is doing well with sports vertical. But the streaming video platform is still losing money. Will Charlie Collier, president Roku Media, lend discipline? I think so. 9. PayPal (PYPL) can rally because it hasn’t been ground to a halt and there is a fresh perspective for Venmo and small business from Intuit émigré Alex Chriss. Nothing solid, just a more judicious game plan and no emphasis on “buy now, pay later.” Slowing growth but not anemic. 10. Target (TGT) is buying less stuff, tightening up spending. CEO Brian Cornell says shoppers are spending less , even on groceries, as they worry about the economy and their budgets. 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.

A Starbucks logo at a location in New York, Aug. 17, 2023.

Gabby Jones | Bloomberg | Getty Images

1. Josh Frost is a hero of money. The Treasury Department’s assistant secretary for financial markets released a report on Wednesday that outlines the government’s plan to manage the U.S.’s growing debt load. That includes selling more shorter-term notes (3- and 10-year) instead of the long-term ones (20- and 30-year) that are killing us. A cloud over the bond market has been lifted.

2. Stock futures are up following the Federal Reserve’s decision on Wednesday to keep the federal funds rate unchanged, as expected. Bond yields declined, with the benchmark 10-year Treasury shedding 8 basis points to 4.71%.

2. Qualcomm (QCOM) signals a bottom in handsets. “We are seeing early signs of stabilization in demand” for global 3G, 4G, and 5G. Qualcomm CFO Akash Palkhiwala said he expects 2023 handsets will be down mid- to high-single-digit percentage points compared to 2022, which is better than the company’s previous guidance. The wireless tech company reported fourth-quarter adjusted EPS of $2.02, beating the Street’s estimate of $1.92. Shares of QCOM gained 5.6% in the premarket. Great read-through to trust holding DuPont de Nemours (DD), which delivered a decent quarter Wednesday. The market is stabilizing …

3. Starbucks (SBUX) shares rose more than 5% after the coffee giant reported a top- and bottom-line beat Thursday. Same-store sales were up 8%, net sales jumped 11.4%. We will publish our detailed earnings analysis after the company’s conference call with investors this morning.

4. Shares of Etsy (ETSY) dropped after reporting an earnings miss Wednesday after the bell. CEO Josh Silverman says the retail environment has gotten very competitive with an emphasis on deep discounting, and unsustainable spending on marketing by competitors. GMS, which measures the total number of goods sold over a period of time, grew 1% even as active buyers were up 6%.

5. Airbnb (ABNB): I will take 18% growth, still feel this is the only game in town and spreading internationally. Company cites app changes for momentum, “scratching the surface” but “a little bit of softness in our overall kind of demand relative to Q3” — CFO David Stephenson. Shares of the vacation rental platform fell 1.7% in early trading.

6. Was Mondelez (MDLZ) best in show last night? I wonder because it pretty much put an end to the GLP-1 nonsense (diabetes and weight loss drugs) — not seeing it impact the snack company at all, called out Tate’s and Oreo, two real classic snacks that should have been hit. Organic sales and EPS beat. Remember, the GLPs do not discern between good and bad, it is volume.

7. Disney (DIS) buys rest of Hulu (33% stake) from Comcast (CMCSA) for $8.61 billion. Now it can consolidate Disney streaming with it.

8. Roku (ROKU) reports phenomenal growth, including ads, and says it is doing well with sports vertical. But the streaming video platform is still losing money. Will Charlie Collier, president Roku Media, lend discipline? I think so.

9. PayPal (PYPL) can rally because it hasn’t been ground to a halt and there is a fresh perspective for Venmo and small business from Intuit émigré Alex Chriss. Nothing solid, just a more judicious game plan and no emphasis on “buy now, pay later.” Slowing growth but not anemic.

10. Target (TGT) is buying less stuff, tightening up spending. CEO Brian Cornell says shoppers are spending less, even on groceries, as they worry about the economy and their budgets.

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.