Fed meeting and earnings from Big Tech

As Wall Street approaches the peak of earnings season, CNBC’s Jim Cramer breaks down the top events coming next week, including the Federal Reserve’s meeting and Big Tech’s earnings.

Earnings are especially important as the government shutdown delays macroeconomic data, according to Cramer. He added that Friday’s gains make him quite cautious.

“If it wasn’t for today’s incredible rally that took technology to the moon, I wouldn’t be so worried about next week,” he said. “But the limitless nature of this gesture makes me feel like there has to be a trick to match today’s treat – otherwise we might just scrap Halloween next week and call it an early Christmas.”

Monday brought profit from the steel giant nucorCramer said he thought the administration would praise President Donald Trump’s tariffs, but he wouldn’t expect a blowout from the company. Cramer argued that tariffs help prevent other countries from importing steel into the United States, which means the government sells the subsidized product at a much lower price than domestic producers.

on tuesday United Health, SoFi, celestica And POWER SUPPLY will report. Cramer said UnitedHealth’s investigation into the government’s billing practices could reveal whether it was harmful. Digital bank SoFi has been such a success that Cramer said he wonders if there’s anything that could justify expanding beyond where it is now. He suggested Celestica could continue to climb, saying the company is a great technology maker whose products are in demand. Cramer said UPS’s quarter offered “reasonable risk reward.”

Consumer names V.F. Corp. And Royal Caribbean They will also report on Tuesday Visa And Seagate. Cramer said he expects strong results from clothing maker VF Corp, even though the last quarter “wasn’t very good.” He praised the Royal Caribbean cruise line and said the stock has performed great post-Covid. While Cramer calls Visa a “clockwork stock” that never misses out, disk drive company Seagate may report a boom.

Wednesday brings a slew of big-name earnings, including: CVS, Caterpillar, Boeing’s And Starbucks. Cramer said he thinks the retail pharmacy giant’s quarter will be better than expected and suggested investors take profits out of Caterpillar even if the quarter is great, since it’s had so much earnings lately. Stating that Boeing needs to deliver a “measured set of positive results,” the official said he thinks the plane maker is in a good position amid the ongoing trade war. Cramer added that Starbucks’ results may come in a little stronger than expected, but “Brian Niccol’s humility will be the topic of the day.”

Big tech players will report on Wednesday Alphabet, Microsoft And Meta. Cramer predicted that all three would achieve great results and suggested that Microsoft could be the strongest of the bunch. Alphabet’s quarter will be backed by Waymo, YouTube and search businesses, while Meta will handle advertising and discuss Ray-Ban glasses, he said.

chipotle, ServiceNow, to the caravan And Agnico Eagle They will announce earnings on Wednesday. Cramer said the Mexican food chain “doesn’t seem to be able to deliver its products” and that this quarter could be “make or break in terms of maintaining the company’s growth situation.” He said cloud software company ServiceNow could have its best quarter of the week and Carvana could “blow the doors off” when it reports. Cramer suggests owning gold stock in Agnico Eagle over peers Newmont.

The Fed will meet on Wednesday. Cramer said he thought the central bank would cut interest rates by a quarter point, that the economy was starting to stall and that the consumer price index was in good enough shape to justify the drop in borrowing interest.

MasterCard And Eli Lilly He is due to report on Thursday and said he thought the former should produce solid results while the latter was “getting unlucky”. Cramer suggested the pharmaceutical giant should announce a new use for the GLP-1 drug or announce when the pill form will be released.

Thursday also brings gains from tech megacaps Amazon And Apple. Cramer said Amazon needs to see its web services division grow or shares won’t rebound. He said Apple should have “a good multi-year story to tell” and argued that investors should own the stock, not buy or sell it.

oil giants Strip And Exxon He will report on Friday. He called both stocks tied to the price of crude oil “laggards,” so it’s difficult for them to gain traction.

Sign up now For CNBC Investment Club to follow Jim Cramer’s every move in the market.

Disclaimer CNBC Investing Club Charitable Trust owns shares of Apple, Amazon, Alphabet, Meta, Starbucks and Eli Lilly.