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

My top 10 things to watch Tuesday, July 21 1. Is SK Hynix in charge of this market? The South Korean memory-chip maker's New York-listed shares are up over 6% this morning. So you might've guessed that Nasdaq futures are also up big. The question is: Will it hold? The Nasdaq Composite's strong start yesterday fizzled, ultimately ending the day flat. 2. New 50% tariffs on some Canadian imports from the Trump administration, ranging from wine to hockey sticks to cement. Supposed to take effect in 30 days. Notably, energy is excluded from the new duties. The focus should be on dealing with companies that trade with Iran or Russia, but that's not the focus. 3. Morgan Stanley unleashed a barrage of calls on enterprise software stocks after a new lead analyst, Adam Wood, took charge. Club name Salesforce was downgraded to hold from buy on concerns that an Agentforce inflection won't happen soon enough to offset weakness in legacy products. Adobe was cut to sell from hold, citing execution risk from leadership and business model transitions. Intuit was also moved to hold from buy, saying it'll take time for investors to get confident in a reacceleration. 4. Wood and Morgan Stanley kept Club name Microsoft at a buy rating. Cloud unit Azure and AI assistant Copilot are crucial drivers of the stock, and analysts argued that both are set to inflect. The degree of that inflection is "not well reflected by the market," they wrote. Microsoft is the second-worst Mag 7 stock this year (behind only Tesla ). As much as I respect CEO Satya Nadella and CFO Amy Hood, this one is testing my patience. Need something good to happen. Earnings are out next week. 5. 3M blowout: The industrial conglomerate is up more than 5% in the premarket after beating on the top and bottom lines. Well-known for things like Scotch tape and Post-it notes, 3M's other materials are seeing a surge in demand is thanks to the AI buildout. CEO Bill Brown has it together. I'll be interviewing him on tonight's "Mad Money." 6. Wells Fargo bumped up its price target on Club name Amazon to $322 from $313. The analysts mentioned that costs are going up but still said the e-commerce and cloud giant can pass costs on in the cloud. Amazon reports earnings next week. They might be done with bond offerings this year, but is an equity sale on the table? That question in the market is why this stock has been dead money lately. 7. Core business trends at Club holding Intel look healthy, according to RBC Capital, though shares are not cheap at 69 times next 12 months' earnings estimates. The analysts are looking for a 5% revenue beat and a 3% to 5% guidance raise when Intel reports earnings Thursday evening. This stock has become a rollercoaster (along with many other AI chip stocks), but I'm sticking with it. 8. Raymond James upgraded Ralph Lauren to hold from buy on increased confidence that it can exceed Wall Street expectations for fiscal 2027. While it has run a lot, Ralph Lauren is one of the best retail names. Telsey Advisory raised its PT last week. I would buy this stock and should have bought it over Nike , which we've since exited for the Club. 9. Live Nation was downgraded to hold from buy at Susquehanna. The stock has rallied 27% so far this year as Justice Department antitrust concerns eased and the market got excited about a strong concert slate. But at current levels, analysts said a lot of that good news is baked into the stock, leaving "little room for error" in the third quarter. 10. Kraft Heinz inked a deal with Disney to supply ketchup, mac and cheese, and other products to the entertainment giant's North American properties. In exchange, Kraft Heinz will be able to use Disney characters on products sold in stores, The Wall Street Journal reported . Smart move from CEO Steve Cahillane as he works to revitalize Kraft's brands. I'm a believer in what he's doing. Called off the breakup and instead is investing to fix problems and get back to growth. Sign up for my Top 10 Morning Thoughts on the Market email newsletter for free (See here for a full list of the stocks at Jim Cramer's Charitable Trust.) As a subscriber 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 trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.