CNBC’s Jim Cramer on Friday warned investors that future market backlash will be temporary as the Federal Reserve is enthusiastic about fighting inflation.
“Until you see patterns of rising unemployment, lower consumer spending, and lower oil prices, think that the Fed needs to sell shares to every rally in order to make these rallies temporary. . “Flirt“The host said.
“But I think the economy is already significantly weakened here, so the pain may go away sooner than expected,” he added.
The S & P 500 and Nasdaq Composite rose on Friday, but all major indices closed volatile week trading. In the redS & P has recorded the worst week since 2020.
“Every time they look like they’re done selling, they’ll be back soon,” Kramer said Thursday. Investors are advised to postpone Buy until the market settles down.
He also previewed next week’s earnings slate. All revenues and revenue estimates are courtesy of FactSet.
The market is closed for Juneteenth, a federal holiday commemorating the end of South Army slavery.
- Earnings announcement for the second quarter of 2022 before Bell.11am conference call
- Forecast EPS: $ 3.95
- Expected revenue: $ 8.12 billion
Kramer said house prices are so high that analysts wouldn’t be surprised to downgrade a stake in a construction company.
Wednesday: KB Home.Korn / Ferry
- Announcement of financial results for the second quarter of 2022 after financial results.5 pm ET conference call
- Forecast EPS: $ 2.04
- Expected revenue: $ 1.65 billion
Investors should consider buying some shares of KB Home if Renner’s shares can’t be put into the tank, as Renner’s shares may be ready to bottom out, Kramer said. Said.
- Announcement of financial results in tbd for the fourth quarter of 2022.12:00 pm conference call
- Forecast EPS: $ 1.55
- Expected revenue: $ 680 million
Management consulting firms could give insights into whether the Fed’s rate hikes are affecting the workforce, Kramer said.
Thursday: Darden Restaurant, FedEx
- Earnings announcement for the fourth quarter of 2022 before Bell.8:30 am (Eastern Time) conference call
- Forecast EPS: $ 2.21
- Expected revenue: $ 2.54 billion
Kramer said he expects disappointing results from the Olive Garden and Capital Grill parent companies because of food and labor inflation and underfunded consumers.
- The announcement of financial results for the fourth quarter of 2022 is 4:15 pm (Eastern Time).5 pm ET conference call
- Forecast EPS: $ 6.87
- Expected revenue: $ 24.49 billion
He doesn’t expect FedEx to have a good quarter, but Cramer said he’s still interested in the state of e-commerce.
- Revenue release in the first quarter of 2023 before Bell.9am conference call
- Forecast EPS: $ 1.55
- Expected revenue: $ 9.2 billion
Kramer predicted that Carmax is likely to have a decent, but mediocre number of sets due to a shortage of cars.