Stocks face pressure from interest rates, oil and a slew of new products

CNBC’s Jim Cramer warned Friday that a combination of rising interest rates, rising oil prices and a flurry of new stock issuances could keep the market under pressure over the coming week.

“What you’re seeing, on top of a market that’s hostage to interest rates and high oil prices, is a huge amount of new stocks coming through the pipeline that investors can’t buy unless they sell something else,” the “Mad Money” host said.

All three major indexes ended lower after a better-than-expected jobs report pushed up U.S. bond yields and dampened hopes for short-term interest rate cuts. Investors were also grappling with the prospect of large-scale funding across the artificial intelligence industry, including for SpaceX’s highly anticipated products.

“Today was the day people started raising money to participate in the upcoming mega IPO,” Kramer said.

With this backdrop, Kramer looked at the major earnings reports and events to watch over the coming week.

apple’s The Worldwide Developer Conference has begun. Investors have long questioned the company’s AI strategy, but Cramer said Apple’s decision not to invest aggressively in AI infrastructure is looking increasingly like the right one.

“This is a big reason why big tech buyers are being crushed while stock prices are soaring,” he said.

food company campbells is also reported. Kramer said the processed food industry remains under intense pressure from slowing growth, GLP-1 drugs and limited pricing power.

After closing, Vail Resorts I will report. Although stocks have rebounded recently, Cramer questioned whether consumers faced with rising gas prices will continue spending during the holidays.

After the bell, cracker barrel I will report. The stock price has risen since the beginning of the year, but is still down from its highs a few years ago. “We’d like to be a buyer, but we need some revenue growth,” Kramer said.

chewy Morning report. After a disappointing quarter, petcoKramer said investors will learn whether consumers are starting to cut back on pet-related purchases.

Mr Kramer said oracleReporting after the bell, we recognized early on the opportunity to build data centers, and the results should provide new information on spending on AI infrastructure.

software maker adobereports that it continues to face pressure from cheaper AI-powered alternatives. Even after the selloff, the stock is “not low enough to hold,” Cramer said.

home builder lenner It also reports that rising interest rates continue to weigh on housing demand.

SpaceX plans to list on the Nasdaq on June 12, and Cramer said he expects investors to quickly raise the funds needed to participate in the deal.

“Let’s put an end to this and this market can move forward again,” he said, arguing that stocks could struggle to move higher as long as investors sell existing holdings to fund the growth of a new pipeline of offerings.