The market saw significant movements with the Dow Industrials losing over 300 points, prompting a closer look at key stock performances and analyst insights. While major tech players like Apple and Meta show strength, expert Jim Cramer advises diversifying beyond tech, highlighting opportunities in non-tech giants like Goldman Sachs and Boeing. The session also brings new trade tensions with proposed tariffs on Canadian goods and a dip in momentum ETFs, setting the stage for an eventful trading day.
Stocks @ Night, a daily newsletter offering a pre-market glimpse into tomorrow and a post-market review of today, reveals the key factors producers at CNBC TV were monitoring as the Dow Industrials plummeted over 300 points. Here’s a detailed look at what’s on the radar for the upcoming trading session:
Big Earnings and Stock Performance Highlights
Several major companies are making headlines with their recent stock movements:
- 3M (MMM): Up 5% in three months, but currently 10% down from its February high.
- General Motors (GM): Down nearly 6% over three months and 13.5% off its February 4th high.
- Charles Schwab (SCHW): Posted a 10% gain in three months, though it's 4.6% below its February 10th peak.
- Northrop Grumman (NOC): Experienced a significant 20% drop in three months, now 32% off its early March high.
- DR Horton (DHI): Down 5.6% in three months and 21.5% from its September high.
- Hasbro (HAS): Declined 14% in three months, sitting 24% below its February high.
The past three months have shown varied performances across these industrial and consumer stocks, with companies like 3M and Hasbro seeing notable dips from their recent peaks.
Cramer's Call to Look Beyond Tech
Jim Cramer, the host of 'Mad Money,' advocates for investors to diversify their portfolios beyond the dominant big tech companies. While he remains confident in profitable tech giants such as Apple (AAPL), Nvidia (NVDA), and AMD (AMD), Cramer emphasized that relying solely on tech exposes investors to specific vulnerabilities. He famously quipped, “Did anyone switch to Samsung during this travesty of an AI issue…. Did anyone say, 'I'm sick of the 17 Pro Max… Get me a Lenovo?'” This highlights his view that these core tech players retain strong loyalty.
However, Cramer also points to compelling opportunities in non-tech sectors, urging investors to consider buying into companies like Goldman Sachs (GS), Honeywell Aerospace (HON), Boeing (BA), Wells Fargo (WFC), FedEx (FDX), and FedEx Freight. He argues these companies are less susceptible to daily news cycles and geopolitical tech threats, particularly from China.
- Goldman Sachs (GS): Down 8.6% from last week’s high, but up 4.3% in July. Cramer’s charitable trust purchased GS on March 19th, and it has since risen 31%.
- Wells Fargo (WFC): Down 11.6% from its January 5th high, yet up 4.5% in July.
- Boeing (BA): Off 17% from its January high.
- Honeywell Aerospace (HON): Down 32% from its mid-June high.
- FedEx (FDX): Down 11.3% from its June 15th high, but remarkably, up 32% in 2026.
- FedEx Freight: Off 25% from its trading debut price on June 1st.
Big Tech's July Rally: Meta and Apple
Despite Cramer’s advice to diversify, Meta Platforms (META) and Apple (AAPL) are enjoying a strong July. Meta is up 14.7% this month, while Apple has gained 12.9%, even after a 2% dip on Monday. Apple hit a new high on Friday, currently down only 2.5% from that peak, while Meta is still 19% off its August 2025 high.
New Tariffs Target Canada
Former President Donald Trump has proposed a 50% tariff on a wide range of Canadian goods, including cement and hockey sticks. While many such items, like hockey pads, are now sourced from countries like China, Vietnam, and Thailand, the levies would also extend to Canadian wine. Trump states this is in retaliation for alleged Canadian discrimination against U.S.-made products. The iShares MSCI Canada ETF (EWC) reached an all-time high last week and is up approximately 26% over the past year.
Momentum Stocks Take a Hit
The iShares MSCI USA Momentum Factor ETF (MTUM) has seen a nearly 12% decline so far in July. Its top holdings include Micron Technology (MU), AMD (AMD), Broadcom (AVGO), Intel (INTC), and Caterpillar (CAT). After reaching a high on June 22nd, the ETF is now down 12.5%.
