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

1. The S&P 500 is on track for a muted open and its fifth consecutive winning week despite a slight decline Thursday. The producer price index, a measure of wholesale inflation, came in below expectations for September. A day earlier, consumer inflation data was hotter than expected. With earnings season kicking off, investors should focus more on corporate results than every single economic report.

2. Tesla skeptics are everywhere after the electric vehicle maker’s hyped-up robotaxi event was short on details. Shares were down nearly 7%. CEO Elon Musk said Tesla will start building the self-driving taxis, dubbed Cybercab, before 2027 and would cost less than $30,000. But historically he has been too optimistic with these timelines.

3. BlackRock reports a total blowout quarter, with earnings per share of $11.46 well ahead of the $10.33 estimate. Revenues of $5.2 billion also beat. Inflows were insanely strong, representing 8% organic asset growth. The stock is on my shopping list for the CNBC Investing Club.

4. Wells Fargo, one of two financials we currently own for the Club, reported earnings of $1.52 a share on revenues of $20.37 billion. Both were weaker year over year, but EPS was a big beat. Shares added more than 3%. Non-interest income rose 12% on annual basis in the quarter and credit discipline was strong. Also Friday, JPMorgan topped profit and revenue estimates.

5. Domino’s offers cheaper pizza, and it is catching on. The “Emergency Pizza” promo is back. Really drawn to the stock down here, even with a number of analysts lowering their price targets after the company’s third-quarter earnings report Thursday. Domino’s trimmed full-year sales and income growth guidance, citing the economic environment.

6. Advanced Micro Devices‘ pullback Thursday on its AI event looked like an opportunity. AMD was steady on Friday. Was the Club stock hurt by fact that Amazon Web Services wasn’t there? Melius Research suggests that might be it. The rest of the big players were included: Microsoft, Oracle, OpenAI and Meta. We own Microsoft and Meta for the Club.

7. Goldman Sachs upped its price target on Nvidia to $150 a share from $135 and kept its buy rating on the stock. Toshiya Hari, a noted analyst, told clients that after meeting with CEO Jensen Huang and other execs, he has a better appreciation of Nvidia’s competitive moat. On Thursday, Morgan Stanley reiterated Nvidia as a top pick. Nvidia is way ahead of everyone else.

8. Johnson & Johnson landed a huge win by forum shopping. A judge ruled that its subsidiary’s third try at resolving tens of thousands of talc cases can stay in bankruptcy court in Texas. There is now a path out of this nightmare. Worth a look for risk-takers.

9. Barclays raised its price target on ServiceNow to $980 a share from $890, implying just a few percentage points of upside. Still, analysts kept their buy-equivalent overweight rating on the stock. Analysts said their supplier checks ticked down, making it tough to get very excited about the software earnings season. Did ServiceNow’s business tick down though? I doubt it.

10. Warren Buffett’s Berkshire Hathaway continued its sales of Bank of America stock this week. The latest trims brought Berkshire’s stake in the bank below 10%, which means it will not have to report its sales within two business days to comply with U.S. securities law. Bank of America reports earnings Tuesday.

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