CNBC’s Jim Cramer said Friday that next week’s earnings reports will be key to determining market performance.
Stocks rose Friday after December’s jobs report and economic readings, showing the Federal Reserve is making headway in its fight against inflation. The Dow Jones Industrial Average and S&P 500 hit their highest since November 30th, and the Nasdaq Composite hits its highest since December 29th.
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“Those macro numbers have been good for the market, but when we actually get the earnings reports, it becomes a sideshow, which will happen next weekend,” he said.
Cramer added that he will also be keeping an eye on next week’s December CPI report.
“If the CPI is lower than expected, there will be better days, if not better than today,” he said.
All estimates of earnings, returns and economic data courtesy of FactSet.
Monday: Jefferies Financial
- Post-Close Fourth Quarter 2022 Earnings Announcement
- Projected EPS: 57 cents
- Projected revenue: $1.19 billion
“If they say all the systems work, that means they might want to buy big financial stocks ahead of their earnings,” Kramer said later in the week.
Tuesday: albertsons
- Q3 2022 Earnings Release Before Bell. No conference call due to merger agreement with Kroger
- Projected EPS: 65 cents
- Projected revenue: $17.81 billion
He said he will monitor price increases at grocery stores and updates on how the company’s merger with Kroger is progressing.
Wednesday: KB home
- The company’s fourth quarter 2022 earnings call is scheduled for 4:10 p.m. to 4:20 p.m. ET.Conference Call at 5:00 PM ET
- Projected EPS: $2.87
- Projected revenue: $1.99 billion
The company’s earnings report will give insight into whether house prices are falling — which would be good news for the Fed, he said.
Friday: Wells Fargo, Bank of America, JPMorgan Chase, BlackRock, UnitedHealth
wells fargo
- The fourth quarter 2022 earnings call is scheduled for 7:00 a.m. ET.Conference Call at 12:00 PM ET
- Projected EPS: 60 cents
- Projected revenue: $20.01 billion
Cramer said he believes the stock has room to go further.
bank of america
- The fourth quarter 2022 earnings call is scheduled for 6:45 a.m. ET.Conference Call at 9:30 AM ET
- Projected EPS: 78 cents
- Projected revenue: $24.3 billion
JP Morgan Chase
- The fourth quarter 2022 earnings call is scheduled for 6:45 a.m. ET.Conference Call at 8:30 AM ET
- Projected EPS: $3.11
- Projected revenue: $34.29 billion
He expected both Bank of America and JPMorgan Chase to deliver strong quarters.
black rock
- The company’s fourth quarter 2022 earnings call is scheduled for 6:15 a.m. ET.Conference Call at 8:30 AM ET
- Projected EPS: $7.87
- Projected revenue: $4.24 billion
Cramer said he expects the company to beat earnings estimates for the latest quarter.
united health group
- The fourth quarter 2022 earnings call is scheduled for 5:55 a.m. ET.Conference Call at 8:45 AM ET
- Projected EPS: $5.17
- Projected revenue: $82.48 billion
“We may be able to bottom out one of my favorite stocks, UnitedHealth Group,” Mr. Cramer said.
Disclaimer: Cramer’s Charitable Trust owns shares of Wells Fargo.
