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

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Jim Cramer,Investment Strategy,Markets

AI chipmaker Nvidia's earnings report after the bell Wednesday is the main event on Wall Street. Target falls after earnings. TJX climbs.

My top 10 things to watch Wednesday, May 22 Nvidia earnings day. Stock futures are slightly lower after the S & P 500 and Nasdaq closed at record highs a session earlier. The artificial intelligence chipmaker's report after the bell is dominating the headlines. I don't think it's a make-or-break report, but expectations are very high. Club name Nvidia has had a huge gain so far this year, up 92.6%.

Club name Nvidia has had a huge gain so far this year, up 92.6%. That's more than the advances for fellow Club stocksahead of Nvidia's report tonight. One nugget including in our preview: Amazon's cloud unit is not halting chip buying from Nvidia while waiting for next-generation Blackwell products.shares fall after an earnings miss. Revenue of $24.53 billion and a 3.7% same-store sales decline were roughly in line with estimates.

U.S. oil futures fall nearly 1% to just under $78 a barrel and are on pace for their first negative week in three. On Tuesday afternoon, the Biden administration said it will "strategically" release 1 million barrels of gasoline from reserves in the Northeast between Memorial Day and the Fourth of July., including at Citi and Morgan Stanley, following a mixed fiscal third-quarter report. Earnings beat, but revenue and same-store sales were light.

More downbeat comments on the electric vehicle market: The CEO of EV battery supplier Panasonic told reporters it may delay investments into more production capacity in the U.S. According to Reuters, the executive said Panasonic has seen a "drastic" decrease in orders from a certain company, though he didn't say which.

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