- CNBC’s Jim Cramer told investors what he’s watching for next week, including several major economic conferences.
- He also noted that the United Auto Workers union could strike next week if it cannot reach an agreement with automakers by Thursday’s deadline.
CNBC’s Jim Cramer urged investors to prepare for several major conferences next week, including Salesforce’s Dreamforce and Morgan Stanley’s annual Laguna Conference.
“This is all important because I think we are nearing the end of the Fed’s tightening cycle,” Cramer said. “If you get to that point – we have maybe five or six months left – and the Fed is heading towards its 2% inflation target, all you’re left with is a couple of rate hikes. They need to become more optimistic. “Historically, it was the stock market.”
Cramer added that it can be difficult to remain optimistic when the economy appears headed for a downturn because many companies may use their conferences to “steer downward.”
“It happens every year. This year I expect a few more of these as we are in the cycle. And what you have to do is buy the stocks of companies that are doing well and that have just spoken, whose stocks are sinking and falling due to the negativity of a few companies,” he said.
On Monday, Cramer will attend the Barclays Annual Global Financial Services Conference, where JP Morgan CEO Jamie Dimon will speak. Cramer will also watch Dreamforce, which takes place in San Francisco next week. Apple’s new iPhone will be launched on Tuesday, he added.
On Wednesday, Cramer will review new consumer price index numbers, which provide insight into inflation.
Cramer said he is also waiting to see whether the United Auto Workers union can reach an agreement with the three major automakers by Thursday’s deadline. Also on Thursday, semiconductor company Arm is expected to go public, and both Adobe and Lennar will report quarterly results after the market close.
On Friday, investors may be worried about the Federal Reserve’s meeting the following week, Cramer said.
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Disclaimer The CNBC Investing Club Charitable Trust holds shares of Salesforce and Morgan Stanley.