Global Courant 2023-05-13 05:43:44
Investors should gear themselves up for a potentially challenging week ahead, with a number of earnings reports that could serve as indicators for the broader economy, CNBC’s Jim Cramer said Friday.
Key retail sales numbers are due Tuesday along with earnings DIY store while Goal reports earnings the next day.
Those reports will be helpful in parsing the state of the economy, Cramer said, especially Tuesday’s retail data that could show “some real cracks in consumer spending.”
On Wednesday, network powerhouse Cisco and video game creator Take-Two interactive reports earnings, and Cramer thinks Take-Two “may be due for a change of fortune,” given how unhappy CEO Strauss Zelnick was with its performance in the previous quarter.
Reports are coming in from retail and e-commerce juggernauts on Thursday walmart And alibaba. Cramer thinks Walmart’s subscription service, Walmart+, has “gained momentum.”
On Friday, Cramer said the appearance of Federal Reserve Chairman Jerome Powell on a monetary policy panel could give investors some insight into the Fed’s thinking and possibly into the banking crisis that has unfolded in recent weeks.
The debt crisis is looming and until lawmakers find a solution, Cramer warned investors to be cautious.
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