Jim Cramer’s top 10 things to watch in the market on Monday: Stocks, China, Apple

My 10 best things to watch on Monday, December 5, 2022

1. Morgan Stanley’s Mike Wilson says he’s seen enough of the rally, and he says it’s time to bail out. It has a year-end upside of less than 2% S&P 500 4,000 to 4,150 price target. Stay with defense stocks and utilities. Industrialists carried the market. I recently wrote about some hot old school stocks and how we play in the sector for the Club.

2. According to the latest CNBC Supply Chain Heatmap data, Chinese manufacturing for the US is down 40% due to factory closures there due to Covid restrictions. According to Reuters, China may be ready to announce 10 more Covid mitigation measures this week as Beijing slowly admits that the latest variants of Covid are no worse than the flu.

3. Wedbush says that the current situation in China is a complete disaster for the Club holding company apple (AAPL). Typical overstatement. Foxconn’s revenue fell 29% in November due to a slowdown at its largest iPhone assembly factory in China. But is it back to normal soon? Reports indicate that full production will resume before or around the new year.

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