CNBC’s Jim Cramer walked investors through next week on Wall Street, telling them to take note of the Federal Reserve’s next meeting and earnings reports from companies including FedEx, Micron and General Mills. He also warned that regardless of earnings, market action will likely be shaped by President Donald Trump and the Fed.

“No matter what we hear from these companies, next week this market’s hostage to the White House and the Federal Reserve,” he said

Monday brings data about the consumer landscape with the retail sales report. Cramer predicted that consumers have pulled back spending because they’re worried about losing their jobs as the Trump administration sows fear about the state of the economy.

Tuesday marks the start of Nvidia‘s annual GTC conference, where artificial intelligence innovations from around the world will be on display. Housing starts will also be released on Tuesday, and Cramer said he will be paying close attention to the results, as any sort of economic slowdown will be reflected in housing data.

The Fed will meet on Wednesday and give investors a read on inflation, with Cramer noting that economic data released earlier this week was fairly promising. General Mills will also report that day, and Cramer said he’s not expecting great results. Because of its artificially colored cereals, the company is in the crosshairs of Secretary of Health and Human Services Robert F. Kennedy Jr. And its more fattening products might not be doing well as consumers continue to use GLP-1 weight loss drugs, he added.

Thursday is a heavy earnings day, with companies including Olive Garden parent Darden, FedEx, Micron, Nike and Lennar set to report. Cramer said he thinks Darden will post solid results because of its value offerings. FedEx’s report might give investors a chance to buy the stock at a discount, Cramer added, saying he’s impressed with the company’s management. He’ll also be waiting to see if Nike indicates it’s back on track and ready to grow. And during Lennar’s report “lumber will be on the table,”and it might be discussed negatively, he continued.

On Friday, Carnival will report, and Cramer said the cruise sector has been strong recently, even their stock prices don’t reflect that. Cramer said he doesn’t think Carnival’s business has been weak, so the stock could climb.

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Disclaimer The CNBC Investing Club Charitable Trust holds shares of Nvidia.

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