CNBC’s Jim Cramer told investors Friday what to watch for in the coming week as earnings season begins. He said news about the war between Israel and Hamas will likely overshadow much of next week, but still recommended investors pay attention to numerous reports, including Charles Schwab, Bank of America and Goldman Sachs.
“The war will continue to overshadow earnings season, but if you keep an eye on these companies and the conflict stops, the market will eventually embrace the good companies,” he said.
On Monday, Cramer will address Charles Schwab’s report. He said many on Wall Street were concerned about the company’s balance sheet, but for Cramer those fears were overblown.
Cramer called Tuesday “huge” as several major companies are set to report, including Bank of America and Goldman Sachs. Also reporting on Tuesday are Lockheed Martin, Johnson & Johnson and United Airlines.
Major banks will finalize reports with Morgan Stanley on Wednesday, Cramer said. Cramer will also keep an eye on earnings at consumer goods maker Procter & Gamble and medical device maker Abbott Laboratories. Cramer said he believes both stocks fell due to the expected impact of the GLP-1 drugs on the market. Cramer also noted that there was “suboptimal commentary” on Netflix and Tesla, which will report after the market closes on Wednesday.
On Thursday, Cramer said he was paying close attention to reports from KeyCorp and Union Pacific, whose freight volume numbers could be a good barometer for different types of economic activity. Cramer will also look at Friday reports from American Express and oil services provider SLB, formerly known as Schlumberger.
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