My top 10 things to watch Tuesday, June 9 1. U.S. stocks are set for a higher open, with the S & P 500 and Nasdaq set to recover more ground after Friday's massive selloff. Oil prices and bond yields are lower. That's helping support stocks. I am, however, still worried about the influx of shares from the SpaceX IPO (and others) and megacap stock sales to offset AI spending. 2. The SpaceX offering is heating up. Bloomberg described it as well oversubscribed, with several institutional investors putting in orders for $10 billion worth of shares. The report said institutional orders are expected to end after Wednesday's close, though retail investors can still place orders after that. SpaceX is set to begin trading Friday. 3. OpenAI joined the party, confidentially filing for its IPO. The ChatGPT creator announced an $852 million post-money valuation back in March. It smells like more than a trillion-dollar valuation to me. I explained how Club members should think about upcoming offerings from OpenAI, SpaceX and Anthropic. 4. The Financial Times reported that Anthropic has finalized a $35 billion debt deal with Apollo Global Management and Blackstone to help fund its artificial intelligence growth plans. The capital will help fund the startup's purchase of Google-developed chips. Anthropic put in its IPO paperwork last week. 5. TD Cowen hiked its price target on Alphabet to $475 from $450. Analysts said that Street estimates will rise in the coming quarters. TD Cowen see margins for Google Cloud increasing steadily. I fear dilution from the company's plan to sell $85 billion in stock . 6. Amazon sold $10 billion of Canadian dollar high-grade bonds, the largest-ever corporate debt offering in the currency, according to Bloomberg . Is that all Club holding Amazon needs? Oracle could be next. The tech company reports earnings tomorrow night. 7. China is preparing to spend $295 billion over the next five years to put up AI data centers across the country, according to Bloomberg. In an aggressive move to better compete with the U.S., the report said that Beijing aims to build inter-connected digital hubs to provide wider access to computing power. 8. UBS expects Micron to report earnings and revenue well ahead of guidance, citing better pricing. The analysts kept their Micron buy rating and $1,625 price target. Micron is set to report its quarterly results on the evening of June 24. 9. Apple shares are under continued pressure this morning. They gave up gains and turned negative yesterday after the company announced, as expected, AI enhancements for Siri at its developers conference. Staying the course. Morgan Stanley boosted its price target on the Club stock to $360 from $330. 10. GSK announced plans to acquire U.S. drugmaker Nuvalent for $10.6 billion. Nuvalent shares up nearly 39%. For the Club, we own Eli Lilly and Johnson & Johnson . I'm positive on both. The healthcare sector has been excessively out of favor this year, but Lilly and J & J have outperformed. 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.
