Earnings from Robinhood and McDonald’s. Plus, key jobs data ahead
CNBC’s Jim Cramer on Friday outlined what Wall Street will be watching next week, from key employment data to big earnings reports. McDonald’s, robinhood et al.
“There’s a lot going on next week, but believe it or not the most important thing is the Labor Department’s nonfarm payrolls report on Wednesday,” Cramer said. “If this comes softly, that means the Fed can continue to lower rates, and that’s great news for the stock market itself.”
Cramer said recent rallies in good stocks include: PepsiCo, Procter & Gamble And Johnson&Johnson It shows that the market believes the US economy is showing signs of weakness. The January jobs report was originally due to be released Friday morning, but was delayed several days due to the partial U.S. government shutdown. Economists estimate the U.S. added 80,000 new jobs last month, according to FactSet.
The “Mad Money” host then turned his attention to upcoming corporate earnings.
CVS Health It reports quarterly results on Tuesday morning. Although the stock has feuded with other health insurers over reimbursement rates the Trump administration has proposed for Medicare Advantage plans, Cramer said this is the only stock he might own in the space.
“CEO David Joyner has done a great job and I think it’s a fascinating time to own shares,” he added. “They are now the last truly national pharmacy chain after the privatization of Walgreens.”
Meanwhile, Cramer said: DuPont’The company’s earnings report that same day should highlight what a great job CEO Lori Koch has done to develop the chemical company. DuPont spun off its electronics business into a separate company amount Late last year, a long-awaited move helped revive the stock, which has surged nearly 58% in the past six months. DuPont is also a holding in the Cramer’s Charitable Trust portfolio managed by CNBC Investing Club. The club amplified gains in this stock on Thursday.
Tuesday also brings these results: Robinhood. Cramer said this worries investors because of how closely it trades with cryptocurrency markets. Robinhood’s shares are down nearly 27% since the beginning of the year. S&P 5001.3% gain.
McDonald’sIt will announce its earnings on Wednesday. Cramer called the fast food chain “blessed” because its value proposition for cash-strapped consumers has improved while beef inflation remains an issue.
Finally, Cisco Systems Ready to strike after the bell. Shares of the networking company were up 10% year-over-year ahead of Wednesday’s report. “The stock is skyrocketing. I don’t know. We need to know if this is a company with less software.” [and] more hardware,” Cramer said. Cisco is also a holding company of Cramer’s Charitable Trust.
