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

CNBC Finance

4 min read

My top 10 things to watch Wednesday, Jan. 21 1. Stocks fell again early this morning after the market's biggest selloff in three months. The S & P 500 and Nasdaq both had their worst sessions since Oct. 10, bringing both indexes into negative territory for 2026. The sharp losses stemmed from President Donald Trump 's escalating Greenland tariff threats. 2. Trump addressed Davos this morning. He said his policies strengthened the U.S. economy and outlined how he thinks the world can follow America's lead. He blasted the Biden administration on immigration, energy, and the size of government. Trump was still speaking when we sent the newsletter. Check back online for updates . Trump will sit for a CNBC interview today. 3. Johnson & Johnson reported a good fourth quarter of 2025, with full-year 2026 guidance beats. The stock came into the print hot, however, and dropped roughly 3.5% on the news. In my Sunday column , reflecting my time at last week's JPMorgan Healthcare Conference, I called J & J "the Alphabet " of pharma on its strong business lines. 4. Netflix shares sank about 7.5% this morning after the streaming giant issued softer margin guidance and paused buybacks to save cash for its bid to buy Warner Bros Discovery. Lots of price target cuts from analysts this morning. Before earnings yesterday, Netflix changed its offer for WBD to all cash. Q4 profit and revenue did beat. 5. The deal Club name Meta Platforms made with Oklo prompted Bank of America to upgrade the nuclear power company to a buy rating from hold. The analysts increased their Oklo price target to $127 from $111. This is the kind of reckless call that I cannot buy into. Oklo's delivery on SMRs (small modular reactors) is too far out. I say buy Club holding GE Vernova , which makes hard-to-get natural gas turbines that can supplement insatiable data center energy needs. 6. Mizuho took Microsoft 's price target to $620 from $640 and kept a buy rating on shares. Although channel checks showed that artificial intelligence adoption is "very strong," they also indicated more moderate budget flush activity than usual. 7. Analysts at Mizuho also cut its price target on ServiceNow to $190 from $210. The firm, which maintained its buy rating, said that growing investor worries about AI disruption "continue to decimate many software company multiples." People do not know what to do with enterprise software names like these. In the Club's case, we own Salesforce , which is down around 13% year to date. 8. Big call on Club holding Starbucks . Bank of America hiked its price target on the stock to $114 from $106 and kept its buy rating. Unfortunately, there's no earnings-per-share gains mentioned in the research though. 9. Citi increased Club name Linde 's PT to $540 from $520. Analysts, who maintained a buy rating on shares, point to a better currency and sales environment for the specialty chemicals group. Citi, however, did flag the potential for "fresh tariff risks" on the industrial gas giant. 10. DuPont also received a PT boost at Citi to $50 from $47, arguing that the sector is getting stronger. The analysts maintained their buy rating. The Club is keeping DuPont as a way to play non-data center cyclicals. We also like the DuPont spinoff, Qnity Electronics, which has a foothold in semiconductor packaging. 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.

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

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