The Club's top 10 things to watch in the stock market Tuesday

The Club's top 10 things to watch Tuesday, June 23 — Today's newsletter was written by Jeff Marks, the Club's director of portfolio analysis. 1. Nasdaq futures are down about 2.5 % this morning. Semiconductors and AI related-stocks are down the most, as a 10% plunge in South Korea's stock market bleeds into U.S. markets. The pullback comes after the Nasdaq fell 1.3% yesterday, led lower by hyperscaler stocks amid growing concerns about the returns being generated from AI spending. 2. Bank of America raised its price targets across the chips space, taking hold-rated Club name Arm to $460 from $335. Intel , which we also own, went to $160 from $135. Analysts reiterated their buy rating on the stock after double upgrading it this month . BofA also lifted its PTs on buy-rated Micron to $1,500 from $950 and Applied Materials to $720 from $540. Jim Cramer's Sunday column spent a lot of time examining the memory chipmakers and semi equipment suppliers. 3. Susquehanna started coverage of SpaceX with a hold rating and $170 price target. Analysts said a wide range of outcomes exist on the company's relatively unproven markets and recommended waiting for a better entry point. Shares in premarket trading are 16% above its IPO price. After just raising $85 billion in its IPO, SpaceX is also planning on a bond sale . 4. Club name Nike was downgraded to hold from buy at Evercore ISI ahead of earnings next week. …