New economic data and earnings from FedEx, Jabil

CNBC’s Jim Cramer told investors Friday what to watch on Wall Street next week, including new economic data and corporate earnings. fedex and manufacturer Jabiru.

He also mentioned the big sell-off in tech stocks this week. He said he still believes in the power of artificial intelligence and suggested that some of these stocks may be worth buying if their valuations drop.

“As money circulates like a firehose from the Magnificent Seven to various other areas, we need all the data to understand what’s really going on,” he said.

The Department of Labor’s non-farm employment statistics will be released on Tuesday. Cramer noted that Wall Street has been largely silent on macroeconomic data in recent months due to the prolonged government shutdown. Cramer said a strong jobs report could call into question the need for further rate cuts by the Federal Reserve, while weaker data means the central bank can continue easing. Retail sales statistics are also expected to be released on Tuesday, but Cramer added that the report would need to be weak to justify further cuts.

with Jabiru general mills We plan to report on Wednesday. Cramer noted that Jabil is a leading manufacturer of infrastructure and hardware for data centers. He said the company’s earnings could reverse the decline in AI stocks. Kramer noted that many food stocks have struggled recently due to the popularity of GLP-1 weight loss drugs and increased interest in healthy eating, and indicated he would wait to hear from industry giant General Mills.

On Thursday, Darden, Cintas, nike FedEx reports. Kramer said that while some restaurants have been hurt by rising beef prices, restaurant giant Darden is protected by the Olive Garden chain, which has “minimized the impact on beef.” He said Cintas, which supplies uniforms and safety equipment, is a reliable indicator of how small and medium-sized businesses are doing. While it may be too early to expect a turnaround for Nike, Kramer continued, FedEx could be “the star of the week.” He praised the management of shipping companies, adding that the e-commerce boom looks set to continue.

Earnings come on Friday carnival, conagra and PaychexKramer suggested that all three reports provide valuable insight. Carnival can tell you how discretionary spending is doing, Conagra can tell you whether consumers are cooking more meals at home, and payroll processing company Paychex can tell you how small businesses are doing.

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Disclaimer CNBC Investing Club owns stock in Nike.