My top 10 things to watch Friday, July 11 1. Wall Street was set to open lower Friday, retreating from Thursday’s record-high closes for the S & P 500 and Nasdaq . Friday’s drop follows President Donald Trump announcing more tariffs. This time it’s 35% levies on Canada, starting on Aug. 1. 2. The tariffs on Canada are illusory because most of the trade is still protected. I think it is retaliation for the tech tariff that was repealed, and because Trump senses the stock market likes tariffs. I will address this in my speech this morning at the annual meeting of the CNBC Investing Club from the New York Stock Exchange. The livestream for members will start at 10:30 a.m. ET. 3. Levi reported a better-than-expected quarter, highlighted by solid sales, especially in Europe. The results showed investors that a strong hand of slimmed-down stock-keeping units can help offset tariffs. The stock jumped more than 6.5% on the news. 4. JPMorgan research analysts put out a note on financials and among the stocks they like are Club name Capital One . The analysts raised their price target to $245 per share from $210. Tariffs are still a risk, but not as much as previously thought. 5. Bitcoin soared to record highs and topped $118,000 as exchange-traded funds tied to the world’s biggest cryptocurrency saw their biggest day of inflows of the year. 6. Danaher got an upgrade to a buy-equivalent rating from Scotiabank, a lesser-known outfit. The analysts also raised their price target on the struggling Club stock to $275 from $265, arguing that the “worst case scenario” has been priced in. 7. Morgan Stanley raises its price target on cybersecurity stock Cloudflare to $225 from $150. Is this the best one? We like and own CrowdStrike and Palo Alto Networks instead, which were both pummeled Thursday as part of a rotation into lower multiples names. 8. JPMorgan hiked its price target on Club name Amazon to $255 from $240 as part of its earnings preview. Piper Sandler went to $250 from $212 on stronger AWS numbers and Prime Day. The four-day shopping event ends Friday. 9. Club holding Meta Platforms also got a price target bump from JPMorgan, which went to $795 from $735. The analysts cited positive channel checks for the move. 10. Stifel hiked its price target on Club name Starbucks to $105 from $92. The analysts say that the coffee giant is getting close to picking a strategic partner in China. 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. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.