- CNBC’s Jim Cramer gave investors some insight Friday on what to focus on in the week ahead.
- Cramer highlighted the Federal Reserve meeting, a Disney summit and earnings reports from companies like Darden, FedEx, General Mills and AutoZone.
CNBC’s Jim Cramer on Friday gave investors tips on what to focus on in the coming week, highlighting the Federal Reserve’s decision on Wednesday to raise interest rates for the rest of the year.
“One of the strangest weeks of the year is upon us as there is an overwhelming feeling that the Fed will not raise interest rates next week. So I have to be the only one worried about what Jay Powell will say when he becomes chairman.” “We’ll talk on Wednesday after the next big meeting,” Cramer said, referring to central bank chief Jerome Powell.
“I say that because I just don’t see enough evidence that inflation has been curbed to the point that Powell would have to change his language,” he said.
On Monday, Cramer will turn his attention to the investor summit hosted by Disney in Orlando, Florida, and says he hopes it can shed some light on the state of the travel and leisure industry. He also said he would like to hear about Disney’s strategy for ESPN and whether the company’s preliminary discussions about selling ABC to Nexstar were significant. Grocery delivery company Instacart could also release IPO pricing Monday evening, Cramer said, and there will be an earnings report from AutoZone on Tuesday.
Cramer called Wednesday a “pivot day” where the market’s key themes would come together, highlighting earnings reports from General Mills, FedEx and KB Home. The outcome of the Fed meeting will also be announced on Wednesday, and Cramer said he believes there is “the possibility of a harder line than people expect.”
“If there’s a Fed meeting coming up in less than a week and no one seems worried about it, you might want to prepare for some turbulence,” he said.
On Thursday, Cramer will address Olive Garden owner Darden’s earnings report, which could provide clarity on whether consumers are spending their money dining out. And Friday marked a week since the United Auto Workers union went on strike against the nation’s major automakers. Cramer said he believes there could be a solution by then, but acknowledged that UAW leader Shawn Fain appears to want to delay the walkout.
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Disclaimer The CNBC Investing Club Charitable Trust holds shares of Walt Disney.