My top 10 things to watch Tuesday, Nov. 3. 1. It's Election Day. In the midterms, if Democrats were to take the House, the Senate, or both, the AI trade could come under pressure. We also need to see if the anti-data center rhetoric turns into action in the voting booth. Oil is down for a second day on hopes for a diplomatic solution to the Iran war. Bond yields are up a bit this morning, putting a lid on stocks. 2. Apple's service line showed some deceleration . It's often viewed as free profit. Funny because CEO John Ternus told me that they could have more features. I am not all that worried about services as I am about prices due to high memory costs. Apple shares are down about 4% this morning. We warned Club members that Apple may fall. The Club stock rallied into the print and closed at a record high last Thursday. 3. Palantir is down 6% after earnings. Some people are worried about the fourth-quarter guidance implying a sequential slowdown in revenue growth. But…
Jim Cramer's top 10 things to watch in the stock market Tuesday
In short
Major technology companies are facing notable friction, as Apple slipped roughly 4% due to high memory costs and slowing service revenue, and Palantir dropped 6% despite stellar "Rule of 40" metrics. Marvell also extended its slide to a third consecutive session following analyst downgrades tied to its Lumentum deal. In contrast, industrials showed resilience, highlighted by Eaton gaining 2% on the back of a 65% annual surge in its data center segment.
Key points
- Election outcomes and political pushback against data centers represent emerging regulato…: Election outcomes and political pushback against data centers represent emerging regulatory risks for the artificial intelligence industry.
- Strong demand in sectors like data centers and healthcare boosted industrial companies, e…: Strong demand in sectors like data centers and healthcare boosted industrial companies, enabling Eaton and DuPont to gain ground.
- Falling oil prices indicate growing investor optimism regarding a potential diplomatic re…: Falling oil prices indicate growing investor optimism regarding a potential diplomatic resolution to the conflict involving Iran.