- CNBC’s Jim Cramer on Friday highlighted next week’s notable data and earnings reports that are on Wall Street’s radar.
- He will pay attention to new consumer price index numbers as well as reports from retailers such as Target, Home Depot, Walmart and Macy’s.
CNBC’s Jim Cramer laid out what to watch for next week on Friday, highlighting earnings reports from several retail companies as well as the latest consumer price index. He said the market recovery could continue as long as bond yields don’t start rising.
“This market has had a very solid winning streak recently. Remember, this wouldn’t happen if interest rates continued to rise,” he said. “As long as interest rates remain calm – which is the big backdrop we need – companies that report good news will be rewarded with higher share prices. But never forget that the bond market is still in control, it has just finally become friendly.” At least for now.
There’s a notable American Heart Association event this weekend where investors will learn how the new class of weight-loss drugs affects heart disease. Cramer said this could have the potential to boost stocks that make these drugs, such as Novo Nordisk and Eli Lilly.
As Monday.com reports, Cramer said Monday that he will be watching to see how smaller tech stocks might impact larger ones. Cramer said the Israeli company’s results could trigger reactions from enterprise software companies such as Salesforce and ServiceNow, as well as consulting firm Accenture. The latest consumer price index will be released on Tuesday, and Cramer expressed optimism about how high the numbers would be ““Surprisingly cool,” Home Depot reported Tuesday, and Cramer said to pay close attention to the company’s forecast and see if high mortgage rates are prompting homeowners to remodel.
There will be an overall retail sales report on Wednesday, which Cramer expects to be weak. Cramer also highlighted Target, which reports before the market opens on Wednesday, calling the stock one of the worst performing stocks in retail today. On Thursday he will look at other retail reports, namely Walmart and Macy’s. Cramer said he believes the former still has room to run as consumers look for bargains, while the latter is expected to post weak gains but can provide further insight into consumer behavior.
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Disclaimer The CNBC Investing Club Charitable Trust holds shares of Eli Lilly and Salesforce.