Jim Cramer highlights Dow futures up 130 points and SpaceX joins

Dow futures jumped 130 points on Tuesday, while oil rose 1% after reports of Iranian attacks on commercial vessels in the Strait of Hormuz, setting a mixed tone for U.S. equities [1].

Market drivers and sector snapshots

The surge in Dow futures contrasted with a “sharply lower” opening for the Nasdaq, where chip‑heavy stocks were under pressure. S&P 500 futures were modestly lower, reflecting the split between industrials and technology‑driven concerns [1]. The oil market reacted to geopolitical tension: commercial vessels were reportedly attacked by Iran in the Strait of Hormuz, pushing crude up 1% [1].

In the tech arena, SpaceX officially entered the Nasdaq 100 via the exchange’s fast‑track entry process, unlocking billions of dollars in passive fund inflows [1]. Analyst coverage is also expanding, with at least 18 buy ratings from banks that underwrote the IPO, though MoffettNathanson issued a hold citing valuation and orbital‑data‑center risks [1].

Samsung Electronics’ shares fell 7% in Seoul after a preliminary earnings release that showed operating profit growth of more than 1,800% and sales more than doubling, driven by the AI spending boom [1]. The pullback may reflect profit‑taking or anticipation of rival SK Hynix’s upcoming $28 billion U.S. listing, though the exact cause remains unclear [1].

Corporate moves and analyst actions

China’s DeepSeek announced work on a custom AI inference processor aimed at reducing reliance on Nvidia and Huawei chips, a development analysts view as potentially negative for Nvidia [1]. Meanwhile, analysts at Canaccord Genuity argued that the “bear case” against Meta Platforms’ AI spending had gone too far and noted Meta’s plan to sell excess AI compute, though details are still pending [1].

Walmart announced lower prices on beef and other grilling staples, a move seen as supportive of inflation‑headwinds; its stock has slipped 18% since a mid‑May peak, presenting what Cramer calls a “potential opportunity” [1]. JPMorgan raised its price target on Eli Lilly to $1,400 from $1,300, implying roughly 16% upside ahead of the company’s August 5 earnings release [1]. Vertex Pharmaceuticals disclosed a $10 billion acquisition of Crinetics, sending Crinetics shares up nearly 100% while Vertex fell about 1% [1]. Fiserv rose more than 5% after the Wall Street Journal reported talks with major banks to sell its debit‑card network [1]. Finally, D.R. Horton was upgraded to buy from hold by Zelman & Associates, aligning with a broader rebound in home‑builder stocks as 30‑year mortgage rates peak [1].

What to watch

• Oil and geopolitical risk: Monitor further developments on Iranian attacks in the Strait of Hormuz, which could push crude higher.
• Eli Lilly earnings: The August 5 report will test JPMorgan’s 16% upside target and gauge the durability of Mounjaro’s international sales.
• Nasdaq 100 composition: SpaceX’s inclusion may affect index‑tracking fund flows; watch subsequent price action in other newly added constituents.

The juxtaposition of strong industrial futures, a weakening tech outlook, and heightened geopolitical tension underscores a market at a crossroads, where sector‑specific catalysts could tip the balance in the days ahead.