CNBC’s Jim Cramer said Friday that next week’s corporate earnings report will be crucial in determining the market’s performance.
Stocks rose on Friday after the December jobs report and an economic situation reading indicated the Federal Reserve is making headway in its fight against inflation. The Dow Jones Industrial Average and S&P 500 recorded their best day since November 30, while the Nasdaq Composite had its best day since December 29.
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“As good as these macro numbers were for the market, they will become a sideshow when we actually start getting earnings reports, and that will be late next week,” he added.
Cramer said he would also be keeping an eye on the December Consumer Price Index report due next week.
“If the CPI is better than expected, we will get another good day, though not as much as today,” he said.
All estimates for earnings, revenue and economic data are courtesy of FactSet.
monday, Jefferies Financial
- Earnings release after the end of Q4 2022
- Estimated EPS: 57 cents
- Estimated revenue: $1.19 billion
“If they say all systems go, that means you want to buy large financials ahead of their earnings” later in the week, Cramer said.
Tuesday: Albertsons
- Q3 2022 Earnings Released Before the Bell; No conference call due to its merger agreement with Kroger
- Estimated EPS: 65 cents
- Estimated revenue: $17.81 billion
He said he’ll be watching for updates on how much the prices have gone up at the grocery store and how the company’s merger with Kroger is progressing.
Wednesday: KB Home
- Q4 2022 Earnings Release Between 4:10 PM and 4:20 PM ET; Conference Call at 5 PM ET
- Estimated EPS: $2.87
- Estimated Revenue: $1.99 billion
He added that the company’s earnings report would suggest that housing prices are going down — which would be good news for the Fed.
Friday: Wells Fargo, Bank of America, JPMorgan Chase, BlackRock, UnitedHealth
- Q4 2022 Earnings to be Released at 7 AM ET; Conference Call at 12 Noon ET
- Estimated EPS: 60 cents
- Estimated Revenue: $20.01 billion
Cramer said he thinks the stock has more room for gains.
- Q4 2022 Earnings to be Released at 6:45 am ET; Conference Call at 9:30am ET
- Estimated EPS: 78 cents
- Estimated revenue: $24.3 billion
- Q4 2022 Earnings to be Released at 6:45 am ET; Conference Call at 8:30am ET
- Estimated EPS: $3.11
- Estimated revenue: $34.29 billion
He predicted that both Bank of America and JPMorgan Chase would deliver solid quarters.
- Q4 2022 Earnings to be Released at 6:15 am ET; Conference Call at 8:30am ET
- Estimated EPS: $7.87
- Estimated revenue: $4.24 billion
Cramer said he expects the company to beat earnings estimates for its latest quarter.
- Q4 2022 Earnings to be Released at 5:55 am ET; Conference Call at 8:45am ET
- Estimated EPS: $5.17
- Estimated Revenue: $82.48 billion
“Maybe we’ve hit the bottom of the decline in one of my favorite stocks, UnitedHealth Group,” Cramer said.
Disclaimer: Cramer’s charitable trust owns shares of Wells Fargo.
