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

My top 10 things to watch Tuesday, Sept. 1 1. Futures are lower across the board to kick off trading in September, historically the worst month of the year for stocks. Bonds and oil are in control this morning, with yields on the 10-year and 30-year Treasurys climbing alongside crude prices. Brent crude is up to $92 a barrel after two tankers were reportedly struck in the Strait of Hormuz. 2. I don't see how rates can go down now that the market sees Fed Chairman Kevin Warsh as a serious practitioner after his Jackson Hole speech, while President Donald Trump is unable to stop the war with Iran. Our allies in the region are dependent almost entirely on us. Oil stocks are heading back up quickly, with Chevron adding another 1% in premarket trading after yesterday's 2% gain. Unholy developments. 3. Robinhood was upgraded to buy from hold at Morgan Stanley. The brokerage app has added many ways to monetize its 28 million users, including wealth management services, which extends the "duration of growth," analysts said. No longer entirely beholden to the retail trading environment. I've been impressed by what CEO Vlad Tenev has built and think it will continue to do well. 4. Bank of America downgraded California utilities PG & E and Edison International after the California legislature advanced a bill that didn't offer the electricity providers as much wildfire protection as hoped. Analysts went to hold from buy on both stocks, which were slammed yesterday. PG & E tumbled 20%. Edison International sank 23%. A real blindside for investors. 5. Vertex Pharmaceuticals was added to Goldman's U.S. "conviction list," with analysts liking the company's pursuit of five multi-billion dollar opportunities, including cystic fibrosis and pain. I like this one. Could it make sense for us at the Club? Need to do more work. Johnson & Johnson and Eli Lilly are our two current drugmakers. Lilly made another acquisition yesterday, putting its obesity windfall to work. 6. Viking Holdings is another stock on Goldman's conviction list (was added about a month ago). I made the case to buy the dip in Viking last night on "Mad Money." The stock has tumbled 20% since early August, partially due to oil price concerns. Viking is also facing company-specific problems from low water levels on the Danube and Rhine rivers. These look like temporary disruptions to me, creating a nice entry point. 7. Another big price target increase for collaboration software maker Atlassian . Citi went to $225 from $170 and reiterated its buy rating. Yesterday, BofA went to $210 from $175. Shares have more than tripled since their April "SaaSpocalypse" low. Another company that was supposed to be undone by AI that hasn't rolled over. August was the month of the comeback kids , including Club name Salesforce . 8. Citi placed a 30-day upside catalyst watch on Howmet Aerospace after comments from Elon Musk caused the stock to tumble 7.5% yesterday. Musk said SpaceX is developing in-house casting for natural gas turbine blades and vanes, which is Howmet's turf. "We see this as a unique and likely short-lived opportunity in shares," Citi argued. Musk's comments also pulled Club name GE Vernova lower. Near term, political pushback against data centers is a bigger risk for GEV than Musk's ambitions. 9. Deutsche Bank initiated coverage of AI hardware names, with optical suppliers Lumentum and Coherent as its highest conviction picks. Also put buy ratings on Cisco , Arista Networks and Hewlett Packard Enterprise . A10 Networks and Dell landed hold recommendations. Dell reports tonight. Shares have cooled off this summer after a monster spring. Can it get the momentum back? 10. Microsoft's price target at BofA was raised to $600 from $500. A big increase implies another 18% advance for the Club stock, which has already climbed 30% since reporting an impressive quarter on July 29. That quarter, with stellar Azure growth and surprising traction for its Copilot AI assistant, is why we stuck with this one through a long period of underperformance. 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.