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

1. Wall Street was headed for a mixed open, the morning after the S&P 500 closed at a record high. The Dow and Nasdaq each finished higher Tuesday, inching towards their own record highs.

2. In an almost daily barrage of trade headlines, President Donald Trump on Tuesday floated 25% tariffs on drugs, autos and chips. The market did not take these comments seriously.

3. Bank of America analysts see Trump’s reciprocal tariffs as “manageable” for Apple. I’ll be talking about how to think about Apple and Nvidia at our Monthly Meeting for Club members on Thursday at noon ET.

4. Loop Capital cut its price target on Club stock Salesforce to $330 per share from $360 but kept its hold rating. The analysts see a slow start to enterprise software in 2025. Salesforce reports earnings next week.

5. Club name CrowdStrike got some price target bumps: Morgan Stanley went to $429 per share and Stifel went to $475. Analysts are optimistic ahead of the cybersecurity company’s earnings next month.

6. Arista Networks does its number and guides for 17% growth. I think CEO Jayshree Ullal was being conservative on this and on a potential loss of business at Club name Meta Platforms. She’s on “Mad Money” on Wednesday evening.

7. Toll Brothers price decline on new homes is meaningful. Surprising but a sign that the Fed is winning. Must note this because we sure would be complaining if prices went up. Spring selling season looks mixed.

8. Bernstein raised its price target on Home Depot by $1 per share to $422 and kept its hold-equivalent market perform rating. The analysts see building blocks in place for second-half growth. The Club name reports earnings next week.

9. Research analysts at Wells Fargo increased their price target on Club holding Goldman Sachs to $720 per share from $680 and maintained their overweight buy rating. The analysts are raising earnings estimates. This is the one to own.

10. BlackRock, another Club financial, has been on a buying spree that will change the makeup of the world’s biggest asset manager. We looked at how the deals are coming at a time of fierce competition in its fund business.

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