CNBC’s Jim Cramer on Friday outlined what to watch on Wall Street in the coming week, from key labor data to a huge U.S. earnings report. McDonald’s, robin hood And others.
“A lot is going to happen next week, but the most important one, believe it or not, is the non-farm employment report that will be released by the Labor Department on Wednesday,” Cramer said. “If it’s soft, that means the Fed can continue to cut rates, which is great news for the stock market itself.”
Kramer said recent gains in decent stocks include: PepsiCo, procter and gamble and johnson & johnson It suggests that the market believes the U.S. economy is showing signs of weakness. The January jobs report was originally scheduled to be released Friday morning, but was delayed several days due to the partial U.S. government shutdown. Economists estimate the U.S. added 80,000 jobs last month, according to FactSet.
Afterwards, the “Mad Money” host focused on future corporate earnings.
CVS Health The company will announce its quarterly results on Tuesday morning. Cramer said the stock is the only one he owns in the space, which has been under fire with other health insurance companies over reimbursement rates for the Trump administration’s proposed Medicare Advantage plans.
“CEO David Joyner is doing a great job and I think it’s an attractive time to own the stock,” he added. “Now that Walgreens has gone private, they are the last true national drugstore chain.”
Meanwhile, Mr. Kramer said: Dupont”The same day’s earnings report should highlight what a great job CEO Lori Koch has done in turning the chemical company around. DuPont spins off its electronics business quantity The long-awaited move late last year gave momentum to the stock, which has soared about 58% in the past six months. DuPont is also a holding in the Kramers Charitable Trust, a portfolio managed by CNBC Investment Club. The club strengthened by posting a gain on the stock on Thursday.
Tuesday also brings results Robin Hood. Cramer said this is worrying investors because of its close dealings with the cryptocurrency market. Robinhood stock has fallen nearly 27% since the beginning of the year. S&P500rose 1.3%.
mcdonaldswill report earnings on Wednesday. Kramer said that while beef inflation remains an issue, fast food chains are “blessed” because their value proposition for cash-strapped consumers is improving.
Finally, Cisco Systems After the bell, he takes his turn at bat. The network company’s stock soared ahead of Wednesday’s report, up 10% since the beginning of the year. “The stock is soaring, but we don’t know. We’ll have to find out if this company is doing less software (and) more hardware,” Cramer said. Cisco is also a holding company in Cramer’s Charitable Trust.
