Investors should brace themselves for a potentially challenging week and come with a slew of earnings reports that could serve as indicators for the broader economy, CNBC’s Jim Cramer said on Friday.
Key retail sales figures will be released along with earnings on Tuesday home depot while Goal reports the receipts the next day.
Those reports would be helpful in analyzing the state of the economy, Cramer said, particularly Tuesday’s retail sales data, which could show “some real slumps in consumer spending.”
On Wednesday, networking powerhouse Cisco and video game developers Take Two Interactive reports earnings, and Cramer believes Take-Two “might be in for a twist of fortune” given how unhappy CEO Strauss Zelnick was with the previous quarter’s performance.
Reports pour in from retail and e-commerce giants on Thursday Walmart And Ali Baba. Cramer believes Walmart’s subscription service, Walmart+, has “gained momentum.”
On Friday, Cramer said Federal Reserve Chair Jerome Powell’s appearance at a monetary policy panel could give investors a glimpse into the Fed’s mindset and possibly the banking crisis that has been unfolding in recent weeks.
The debt crisis looms and until lawmakers find a solution, Cramer warned investors should proceed with caution.
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