CNBC’s Jim Cramer said next week as Wall Street launches into earnings season, he’ll be following the Federal Reserve’s meeting and earnings from a few tech giants. Investors should not to make any major moves, he advised.
“Look it’s a sheer hell week. Our heads will be spinning, swivel-like, lazy Susan even, as each day you can expect a flood of earnings and a sound bite from President Trump that upsets whatever order there might be,” he said. “Like I always say, don’t try to make decisions during this part of earnings season, just listen.”
On Monday, Cramer will review earnings from SoFi and AT&T. Cramer said he expects good numbers from the fintech company, even as the stock has been heavily shorted. AT&T should also do well, he added, judging by decent results from its peer Verizon.
Tuesday brings a report from General Motors. Cramer said the company is likely to deliver solid results, the stock may decline because the market is focused on Tesla when it comes to the auto industry. Starbucks also reports on Tuesday, and Cramer said he’s optimistic about new CEO Brian Niccol’s vision for the coffee chain. Niccol was able to transform Chipotle, and Cramer said Starbucks could be worth buying after the CEO lays out his plan.
Wednesday is packed. The Fed will reveal its latest decision on interest rates. Cramer said he doesn’t expect a cut when employment seems so strong. T-Mobile and ServiceNow will report their fourth quarter earnings. Cramer anticipates T-Mobile heading higher, while ServiceNow might be a buy if it dips after the release. Tech behemoths Microsoft and Meta are also reporting, and Cramer called both companies’ quarters wild cards. Plus, there’s Tesla earnings. Cramer noted that even when it missed last quarter, the stock still climbed, so he recommended owning it.
Caterpillar reports on Thursday, and Cramer said the company has managed to lean into secular growth instead of just cyclicality. Apple also reports on Thursday. Cramer acknowledged that Wall Street is expecting a miss, but he said it’s still a good stock to own long term. He believes the company will be able to fix any problems it might currently be facing. Intel is set to release earnings as well. Cramer said it needs to raise cash and fix its balance sheet before investors should own the stock.
Finally, Friday has reports from Chevron and Exxon Mobil. Cramer said he doesn’t want to own the oil giants because they might ramp up drilling now that President Donald Trump has relaxed federal regulations.
The Labor Department will also release the personal consumption expenditures price index, an important inflation metric for the Fed, on Friday. “I think it won’t be cool enough. Too much spending for that to happen,” Cramer said.
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