With the bull market in its third year, CNBC’s Jim Cramer said Friday that he expects companies to post “better-than-expected” profits to keep the market moving higher.
“As the next week progresses, the bears will be holding their noses, covering their eyes, and getting smart again because we should be getting another good buck,” Kramer said. “And it’s the profits that really drive the stock price down, not anything else. Or in this case, it drives the stock price up.”
Mr. Kramer talked about the company’s “strategy” with an eye toward next week’s financial results. This week begins by finding out which steel producers are out there. cleveland cliffs On Monday, we’ll have to say something about the health of the “real” economy. After closing Zions Bank Co., Ltd.a local bank that disclosed non-performing loans on Wednesday. Mr. Kramer said he was interested in how the bank was defrauded and whether there were broader signs of weakness at the bank.
But for most of the other companies reporting, Kramer is optimistic.
On Tuesday, Kramer expected positive numbers from both results. ge aerospaceaircraft engine suppliers, and coca colawhich is “the most stable of all packaged goods inventories.” sleeper dow stocks 3M Kramer predicted that health care companies will also report strong earnings. Danaher A strong quarter is expected to break a multi-year drought.
Kramer said: capital one It could follow a successful quarter for American Express, especially after completing its acquisition of Discover earlier this year.
Wednesday, data center builder Vertive Kramer said it was likely to bring in “excellent” returns. GE Vernovamanufactures many of the turbines that power these centers, which can last for multiple years. Mr Kramer said IBM The bears will be proven wrong about its growth rate, as CEO Arvind Krishna is running the “best quantum computing campaign on the planet.”
black stoneThe company’s own data center business will also contribute to a “particularly strong quarter” on Thursday, Cramer said. miner freeport mcmorran Despite deadly mudslides in Indonesia in September, it could rise again.
As Wall Street becomes more bullish T-Mobile After record iPhone sales, Kramer expects shares in network operator; applerun the report at the end of the month.
Finally, procter and gambleKramer said the economy, which has been in a “real house of pain,” has finally bottomed out. The company is scheduled to report earnings on Friday.
