My top 10 things to watch Monday, Nov. 2 1. Futures are higher to kick off a jam-packed week of earnings, jobs data, and the midterms. Tech stocks are trying to rebound from a brutal sell-off last week as investors questioned The Greatest Story Ever Told, the rise of the data center. Expect more choppiness ahead. As I wrote in my Sunday column , investors' shift to stocks outside of the AI trade is real, but do they have staying power? We'll dig in even deeper at Friday's Annual Meeting for Club members. 2. Blockbuster merger : Chipmaker Marvell is buying Lumentum , which makes optical components, in a deal valued at $115 billion. All-stock: 4.5 shares of Marvell for each share of Lumentum. Business for both companies is extraordinarily strong. Marvell is looking to dominate connectivity as AI data centers move toward scale-up architectures: Club names Micron in memory and Nvidia in GPUs. Now Marvell in connectivity. Marvell CEO Matt Murphy and Lumentum CEO Michael Hurlston will be on CNBC at 9:15 a.m. ET to discuss the deal. 3.…
Jim Cramer's top 10 things to watch in the stock market Monday
In short
Major corporate deals are setting the early tone, headlined by Marvell's $115 billion acquisition of Lumentum, while telecom giants fell on reports that SpaceX is targeting EchoStar's Boost Mobile network. Artificial intelligence sentiment is also adjusting as OpenAI reportedly scaled back its funding target to $20 billion, lowering its valuation to $1.25 trillion. Meanwhile, hospitality provided a bright spot, with Marriott boosting its full-year outlook following an earnings beat driven by strong North American and Asia-Pacific demand.
Key points
- Telecommunications incumbents face emerging competitive pressure as SpaceX explores groun…: Telecommunications incumbents face emerging competitive pressure as SpaceX explores ground wireless infrastructure expansions.
- Tech sentiment faces key operational tests with Apple's earnings call alongside shifting…: Tech sentiment faces key operational tests with Apple's earnings call alongside shifting private valuation metrics for artificial intelligence developers.
- Wall Street analysts are aggressively realigning ratings, upgrading companies like CrowdS…: Wall Street analysts are aggressively realigning ratings, upgrading companies like CrowdStrike and Rivian while recalibrating Reddit to hold.