Jim Cramer on the set of “Mad Money” at the NYSE.
- CNBC's Jim Cramer noted what to look out for next week on Wall Street, highlighting earnings from Home Depot, Disney and new consumer price index data.
- Shopify, Spotify, Tyson Foods, Cisco and Alibaba will also report next week.
CNBC's Jim Cramer on Friday identified what to look out for next week on Wall Street, highlighting earnings from Home Depot, Disney and new consumer price index data from the Labor Department. Cramer also reflected on the Trump-fueled market rally over the past few days, saying there are likely more gains to come.
"Stocks are about to have a champion in the White House again, even if you might think they aren't worthy of a presidential supporter," he said. "I say get used to it, even though the buying's started already, because we got a lot more room to run."
On Monday, Cramer will be waiting for quarterly results from enterprise software company Monday.com. Tuesday has more action, with earnings from Home Depot, Shopify, Tyson Foods and Spotify. According to Cramer, the home improvement retailer is "the quintessential stock to own" as the Federal Reserve lowers rates, saying he expects the company to issue a positive outlook because the cutting cycle is set to continue.
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Cramer suggested that Shopify spent too much during its last quarter, but he said the e-commerce facilitator could see the rewards of its spending this time around. Because Tyson Foods is a major meat seller, Cramer said investors can learn a lot about grocery pricing from the company's earnings commentary. He pointed out that Spotify is up over 100% year-to-date and predicted the streamer can continue to raise its forecast beyond Wall Street's expectations.
Wednesday brings October's consumer price index report. If the CPI is too hot, it could "put a damper" on some of investors' voracious buying as of late, Cramer said. CyberArk and Cisco are also set to report on Wednesday, and he suggested the former will post good results as cyber crime remains rampant across the enterprise. He also said Cisco could "surprise to the upside" because it provides a variety of networking services and has a hand in the data analytics business with its recent acquisition of Splunk.
Disney is set to report on Thursday, and Cramer said a lot of solid business at the company is being overshadowed by weakness in its theme park sector. But he wondered if Disney's expanding cruise business could "move the needle." Cramer added that some believe there's weak demand in the semiconductor capital equipment sector, but he said it's possible an earnings report from Applied Materials could "change that dynamic."
Money Report
Friday brings results from Alibaba. While Cramer said he thinks the company does great business and usually meets analysts' expectations, he's generally not recommending Chinese stocks because of continual issues with the country's economy.
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Disclaimer The CNBC Investing Club Charitable Trust holds shares of Home Depot and Walt Disney.
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