A general view of a Gap store. 

Gap Inc.

My top 10 things to watch Tuesday, March 26

1. U.S. stock futures were higher Tuesday morning, as investors looked to resume the months-long rally after a down session. Heading into the final days of March, all three major averages are on pace for their fifth straight winning month. Economic reports to watch Tuesday: March consumer confidence, durable goods orders, and S&P/Case-Shiller home price data.

2. Bank of America added music streamer Spotify to its US 1 list, a collection of the research firm’s best ideas, and removed Netflix, which has been a home run.

3. We will hold our next live monthly meeting with Club members on Wednesday at noon ET. I’ll discuss the current state of the markets, run through updates on all our holdings — and introduce a new stock to the portfolio.

4. Gap price target raised to $32 from $25 at Wells Fargo. This one has been a rocket ship that I wish we had caught it for the Trust. The retailer’s stock is that good but has moved so much already — up more than 33% this year.

5. Bernstein took its Tesla price target to $120 from $150 and kept an underperform rating, citing soft demand in China and Europe and constrained U.S. Model 3 production. The analysts have hated the electric car maker forever. This just adds insult to injury.

6. Former President Donald Trump’s newly merged social media company — Trump Media & Technology Group — will begin trading Tuesday on the Nasdaq market under the ticker DJT. TMTG is the result of a merger approved Friday between Trump’s company and the shell company Digital World Acquisition. We’re waiting to hear whether the board will make special provisions to let Trump sell shares. It could be the key to his money problems.

7. Cocoa prices hit $10,000 per metric ton for the first time. The commodity is up more than 100% this year. This will hurt Hershey and Mondelez.

8. Former WeWork CEO Adam Neumann is back and he wants to acquire the flexible workspace provider out of bankruptcy. He has the $500 million. Oh, why not …

9. Morgan Stanley upgraded data storage stock Seagate to overweight from equal weight, citing a cyclical recovery, technology leadership, and the potential for generative artificial intelligence-related demand as factors that should improve earnings growth. This is a cheaper Micron.

10. Both BofA and Morgan Stanley lowered their price targets on Walgreens Boots Alliance shares and maintained sell ratings. This could be a weak one — reports quarterly results Thursday.

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(See here for a full list of the stocks at Jim Cramer’s Charitable Trust.)

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