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

My top 10 things to watch Friday, Nov. 13 1. Futures are higher this morning after the October producer price index came in lighter than expected, rising 0.3% month over month versus the 0.4% consensus. Dow futures are up 200 points, while the S & P 500 and Nasdaq are also set to open higher. Still, the hottest annual PPI in nearly four years. Bond yields are up. 2. Colette Kress is not a "deer in the headlights," contrary to what Jensen Huang, according to The Wall Street Journal, said about her during a meeting. The Nvidia CFO and now-interim CEO is a heavyweight finance executive. What if Kress was just asking questions of Huang around all these backstops and financing deals that nobody else was willing to ask? 3. After dropping 4% yesterday on news of Huang's resignation, Nvidia shares are trying to mount a little rally this morning. Up over 2% premarket. Still plenty we don't know about the affair scandal, specifically around Huang's relationship with a suspected Chinese spy. But what I know for sure is that Huang had to go as CEO. Just because someone is brilliant doesn't mean he can do whatever he wants. 4. Cisco is off 3% this morning despite a nice beat in its fiscal first quarter. Guidance for the current quarter looked good, and the networking giant hiked its full-year outlook. So why the selling? Some analysts are pointing to slowing order growth ex-hyperscalers and maybe a peak in hardware. Going to get to the bottom of it with CEO Chuck Robbins on "Squawk on the Street" this morning. 5. AI chipmaker Cerebras Systems is up over 11% after reporting better-than-expected third-quarter results and issuing guidance for the December quarter ahead of expectations. Cerebras also announced with Microsoft, adding to its deals with Amazon and OpenAI. Worth noting that there's tons of short interest in Cerebras, which went public in May. Focused on AI inference. 6. Applied Materials is down slightly premarket after a top- and bottom-line beat. Solid guidance too. You need AMAT's machines to manufacture semiconductors, including memory chips, so they're a hot commodity. But multiple questions on the call about whether demand is slowing at all. CEO Gary Dickerson argued demand is "very, very strong," and that customers want them to ship equipment "as fast as we can." Still, many price target cuts as valuation multiples compress across the group. 7. Costco nearly did it. Finished just under its May 19 record-high close. Another session of gains for the Club stock yesterday after Tuesday night's special dividend and buyback announcements. The stock is steady this morning. Bank of America raised its price target to $1,257 from $1,095. The analysts came away from an investor meeting with CFO Gary Millerchip feeling good about continued upside. 8. Palo Alto Networks caught an upgrade from KeyBanc ahead of next week's earnings. The analysts went to buy from hold. They expect growth in cybersecurity budgets at companies to accelerate next year, seeing Club name Palo Alto Networks as a big beneficiary. I have said over and over that cyber is essential in the age of AI. No company can afford to skimp. We also own CrowdStrike. Both stocks have cooled off since October after a blistering rally that began in the spring. 9. Piper Sandler trimmed its price target on Club stock Home Depot to $371 from $378, saying supplier discussions indicate a slowdown in spending on home projects. Shares are up about 18% from October lows, including a nice postelection boost last week on hopes a new Congress could help the sluggish housing market. Home Depot needs lower rates. Piper also cut its Lowe's PT by five bucks to $260. Home Depot reports earnings on Tuesday; Lowe's on Wednesday. 10. Tractor Supply was downgraded to hold from buy at Evercore. Analysts said the rebound in discretionary spending activity that the retailer needs to realize stronger earnings growth hasn't materialized. Also worried about freight and product cost pressures. Tractor Supply had been an excellent performer for a few years, as people moved to the suburbs and rural areas. But shares topped out last August and have lost over 40% of their value since then. 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. 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