CNBC’s Jim Cramer on Friday told investors what to look out for next week on Wall Street, including the latest’s nonfarm payroll report and earnings from Paychex and Nike .
“The employment number lords over all other entries here. Call me concerned because I know that some parts of the economy — anything connected to this data center — are overheating. But another part, autos homes, retailers, are dreadful,” he said. “Can Jay Powell save the rest of the economy without taking the data center economy to a boiling point? Well, you know me – I think he’s done a pretty good job so far, let’s hope he can keep it up.”
On Monday, Cramer will be paying attention to quarterly reports from Carnival and Jefferies , calling both companies “oddly important.” Cramer noted that the cruise industry has been performing well since Covid. He said he thinks Carnival and peers can keep seeing gains because cruises are “relative bargains when it comes to leisure travel.” He also said investment houses have been among the best performers in the market, adding that boutique investment bank Jefferies can help determine whether those stock moves are justified.
Tuesday brings earnings from Paychex , a payroll processor and human resources company for small and medium-sized businesses. Cramer said Paychex is a solid metric for the state of the economy. Nike will also report on Tuesday, and Cramer suggested that the shoe maker is the most important company of the week. He said he doesn’t know if the upcoming report will “be the breakout quarter,” but that there will be a breakout eventually as the company is improving under new CEO Elliot Hill.
On Wednesday, Conagra — a company known for a variety of brands like Birds Eye, Duncan Hines and Marie Calender’s — is set to report. Cramer said he’s concerned about Conagra’s outsized dividend, saying the company needs “a statement upside surprise” to reverse the stock’s downward trend.
Thursday brings a slew of noteworthy economic data, including aggregate car sales, weekly jobless claims and durable goods, Cramer said. But the most important piece of information is the nonfarm payrolls report, he continued, which will be released Friday. Hot figures could discourage the Federal Reserve from making another rate cut, Cramer suggested.