Jim Cramer's top 10 things to watch in the stock market Wednesdsay

My top 10 things to watch on Wednesday, January 28 1. The S&P 500 and Nasdaq headed for higher opens this morning, driven by rising chip stocks after ASML reported a wild buildup for data centers. That figure doubled when we were told they were overbuilding and not doing any work. I hesitate to think of the numbers this company could make if allowed to sell unlimitedly in China. Again today, the Fed is expected to keep interest rates steady after the meeting, and we're seeing gains from Meta Platforms and Microsoft after the bell. 2. Speaking of China, is it time for ByteDance, Tencent, and Alibaba to place Chinese H200 orders? It seems so. Reuters reports that China has approved Nvidia's H200 sale, sending shares of the AI chip giant soaring this morning. This is a bright spot for Nvidia shares, which have had a rough ride over the last five sessions. 3. GE Vernova experienced a boom in the quarter, but Club shares fell 4%. The club name has a huge waiting list, and not all of them are from data centers. Worldwide energy demand is growing rapidly, and natural gas used in GEV's turbines is the most commercial. Nuclear is coming, but it will take years. 4. Corning reported a good quarter this morning. But Club shares are down nearly 2% after rising more than 15% yesterday. It's no surprise that Corning gave back some of yesterday's gains after Meta Platforms agreed to pay Corning up to $6 billion for fiber optic data center cables. 5. Texas Instruments had the best quarter I can remember. Industrial, data center and inventory are all excellent. People really hated this stock, which was up more than 7 percent this morning. Price targets are rising on Wall Street. Bank of America upgraded from sell to hold as free cash flow rebounded strongly. 6. Seagate's gross margin will increase thanks to incredible orders and will increase each quarter. Strong reported quarter. The data storage company was disciplined over capital expenditures. Seagate's shares, which were already on the rise this year, were up more than 10%. 7. Starbucks reported mixed results; it beat sales estimates but fell short on earnings. More importantly, transactions increased for the first time in two years. "Our first quarter results show that our 'Return to Starbucks' strategy is working, and we believe we are ahead of schedule," CEO Brian Niccol said in a statement. Shares rose more than 7 percent premarket. Club member Danaher reported improvements at the top and bottom lines; It also beat Q4 margin and cash flow estimates. Danaher fell 3 percent. We'll be sending out our full reports on both stocks, as well as GEV and Corning, later this morning. 8. Piper Sandler upgraded Bristol Myers' PT to $66 from $62 and maintained a buy rating. The firm said the stock was too cheap and did not reflect its return to growth and strong drug pipeline. Shares were not moved. 9. Amazon said it plans to lay off about 16,000 white-collar workers, the second round since last October when 14,000 employees were laid off. In a blog post, the company wrote that the layoffs are part of an ongoing effort to "strengthen our organization by reducing layers, increasing ownership, and eliminating red tape." This is a confusing strategy. 10. Boeing received some price target raises from analysts, including those at Citi, following yesterday's mixed but increasingly better outlook for the quarter and turnaround. Citi raised its PT to $290 from $270 and maintained its buy rating. Stock should not have been low yesterday because the tanker program issue was different and FCF was improving. Sign up for free for my Top 10 Morning Thoughts on the Market email newsletter (See here for a complete list of stocks in Jim Cramer's Charitable Trust.) When you subscribe 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 trading alert before buying or selling a stock in his charitable foundation's portfolio. If Jim discussed a stock on CNBC, he waits 72 hours after posting the trading alert before executing the trade. THE ABOVE INVESTMENT CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY, TOGETHER WITH THE DISCLAIMERS. NO CIVIL OBLIGATIONS OR DUTIES EXIST OR SHALL BE RESULTING FROM YOUR RECEIVING ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTMENT CLUB. NO SPECIFIC RESULT OR PROFIT CAN BE GUARANTEED.