Our top 10 things to watch in the stock market Thursday

Our top 10 things to watch Thursday, Sept. 24 — Today's newsletter was written by Club editors Matthew J. Belvedere and Kevin Stankiewicz 1. The oil and bond markets are in control again, putting pressure on stock futures this morning. Brent crude is up 2% to $105 a barrel, and the 30-year Treasury yield reached its highest level since 2004 , at 5.446%. Nasdaq futures are seeing the worst of the selling, down about 1%. Stocks fell yesterday as bond yields spiked. 2. Wall Street will keep a close eye on Washington today, as Chinese President Xi Jinping is in town for a summit with President Donald Trump . Market expectations are fairly muted. Already, the U.S and China agreed to a two-month extension of their trade truce, now lasting until Jan. 10. Artificial intelligence and the Iran war will also be big topics of discussion. American business leaders, including Nvidia CEO Jensen Huang, are set to attend a lavish state dinner tonight. 3. A subplot to the Trump-Xi talks: Can Boeing benefit via a firm aircraft order announcement? Would help China get right with Trump on trade. Meanwhile, Wolfe Research analysts said they came away from a tour last week of Boeing's 737 production facility in Renton, Washington, feeling good on production level goals. They said the Club stock continues to be "compelling" at current levels. While maintaining a buy rating, Wolfe did lower its Boeing price target to $270 from $275. 4. The Meta ecosystem received a major upgrade last night at its Connect conference, built around its buzzy Muse personal agents. Multiple new kinds of smart glasses, including a camera-free version to address privacy concerns. Lightweight virtual reality glasses clearly inspired by Apple 's Vision Pro, but at a more reasonable price ($1,299, instead of $3,699). And a surprise handheld device called Muse Charm to work with its new Muse personal AI agent, which is having a ChatGPT-type moment . Meta shares are down 1.5% premarket, but we like what we heard. And, as of yesterday's close, the Club stock was up more than 20% since the Muse agent was launched earlier this month. 5. Goldman Sachs put out a big note on how AI agents, like Muse, will transform e-commerce over the next three to five years, and beyond. The analysts said they expect "steady, measured progress toward end-to-end agentic shopping, where AI can increasingly act on behalf of consumers across discovery, comparison, purchase, and payment." Goldman said that Meta, as well as fellow Club names Alphabet and Amazon , are "positively skewed toward this secular growth theme." 6. Goldman raised its behind-the-meter power generation for data centers outlook, and said Club name GE Vernova is one of the best ways to play the conventional natural gas-powered side of the ever-growing need for energy. The analysts noted GEV's plans to expand its gas turbine capacity as a positive. Goldman has a buy rating on GEV and a $1,268 price target, which represents 33% upside to Wednesday's close of around $952 per share. 7. Oracle shares are down more than 4% after Bloomberg reported that the company wants to delay payment on a major New Mexico data center development, dubbed Project Jupiter, if the campus fails to come online as expected in 2028. Oracle sent what's called a "force majeure" notice, basically a safety net in the event of unforeseen and uncontrollable circumstances, to developer Blue Owl Capital. 8. Club name Starbucks is shuttering another 250 cafes in North America, equal to about 1% of its locations in the U.S. and Canada. This is the second time in CEO Brian Niccol's two-year tenure that Starbucks is closing cafes deemed underperforming. It will book $300 million in restructuring charges in the fiscal year that ends this month. As impressive as Niccol's turnaround has been, the stock hasn't been immune to the sell-off in consumer stocks in recent weeks amid rising gas prices. 9. Merchants using Amazon Supply Chain Services are getting two more perks. Amazon announced that retailers can offer free Prime delivery on their own websites at no additional cost. The company also launched a new volume discount shipping program, with no long-term contracts or commitments. While watching Amazon's expanding third-party shipping business, we don't think it materially hurts Club names FedEx or FedEx Freight . 10. Darden Restaurants delivered a quarterly earnings-per-share beat and matched estimates on revenue. Same-store sales increased 4.6% versus the 4.2% expected. However, the company behind Olive Garden and a number of other value and high-end concepts issued full-year EPS guidance below expectations. The stock is down more than 3%. In another check on the consumer, portfolio holding Costco reports earnings tonight. 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