CNBC’s Jim Cramer told investors Friday what to watch on Wall Street next week, focusing on the non-farm payrolls report and earnings. Git Labs and mass strike.
“For those of you who are hoping for a big rate cut from the Fed and are on the sidelines until the Fed cuts rates, you better hope there’s some softness in the jobs data next Friday,” he said.
GitLab will release its report on Monday. Cramer said he is waiting to see how the company performs because some in the enterprise software industry see sales problems. He noted that GitLab’s results last quarter were disappointing. He said it seemed like a one-off situation to him at the time, but perhaps the report was a harbinger of trouble for the industry.
CrowdStrike’s quarterly results were released on Tuesday, and Cramer said the cybersecurity company performed better than many of its peers.
Hewlett Packard Enterprise, ferguson and PVH Also reported Tuesday. Cramer will wait and see how HPE stacks up against rivals like Dell. Cramer said Ferguson is a good way to invest in infrastructure. He will also watch PVH, known for brands like Calvin Klein and Tommy Hilfiger, but said he prefers Ralph Lauren for apparel.
dollar tree, Campbell’s Soupjack daniels beer maker Brown-Forman and lululemon Will report on Wednesday. Cramer said he wants to know if Brown-Forman can explain what’s affecting alcohol sales and whether the difficult and crowded athleisure market has “baked in” to Lululemon’s stock.
Thursday, JM Smack and file signature It’s due to reporting. Cramer said JM Smucker needs to find ways to grow the company faster, and he wants to know how DocuSign will find a way to turn around the business.
Friday may be the most important event of the week, according to Cramer, the Labor Department’s May non-farm payrolls report. He emphasized that the Fed will be inclined to cut interest rates before the unemployment rate reaches 4%. In April, the unemployment rate edged up to 3.9% from 3.8% the previous month.
