Business

Strong Labor Report Could Bring Bigger Rate Raises for the Fed


Cramer Next Week: Strong Labor Report Could Lead to Stronger Rate Raises

CNBC’s Jim Cramer on Monday told investors that a key labor report could help bolster the Federal Reserve’s inflation strategy.

“We need to see unemployment go higher, while wages stay steady, and we have significant layoffs in a number of industries. If that doesn’t happen, if the numbers are real. high, then the Fed heads will get out of their jobs and start talking about how we need to raise rates more,” he said.

Stocks fell on Monday to start the week, weighed down by Protest against Covid restrictions in China broke out over the weekend.

According to Cramer, the Labor Department will release its November nonfarm payrolls report on Friday and could end a rough week for the market. “Seasonally, it tends to get a little weaker, before things really pick up again in December,” he said.

He also previewed next week’s earnings. All earnings and revenue estimates are provided by FactSet.

Tuesday: Business day, CrowdStrike

working day

  • Report Q3 2023 earnings at 4 p.m. ET; conference call at 4:30 p.m. ET
  • Expected EPS: 84 cents
  • Expected revenue: $1.59 billion

Cramer predicts the company will be hard-pressed to come out on top in the past “spectacular” quarter.

The crowd goes on strike

  • Report Q3 2023 earnings at 4:05 p.m. ET; conference call at 5 p.m. ET
  • Expected EPS: 48 cents
  • Expected revenue: 788 million USD

He said he’s interested in seeing if the company can change from a pure growth game to a profitable growth name.

Wednesday: Hormel Foods, Petco, Salesforce, Okta

hormonal food

  • Report Q4 2022 earnings at 6:30 a.m. ET; conference call at 9 a.m. ET
  • Estimated EPS: 50 cents
  • Expected revenue: $3.38 billion

The hormone that can drag on other food stores has stopped decreasing, says Cramer.

Petco

  • Report Q3 2022 earnings at 7:30 a.m. ET; conference call at 8:30 a.m. ET
  • Expected EPS: 16 cents
  • Expected revenue: 1.49 billion USD

He said he was worried the company would report disappointing results.

Sales force

  • Report Q3 2023 earnings at 4:05 p.m. ET; conference call at 5 p.m. ET
  • Expected EPS: $1.22
  • Expected revenue: $7.83 billion

Cramer said he doesn’t expect co-CEO Marc Benioff to “suffer” from the fact that the stock is one of the worst-performing stocks in the Dow Jones Industrial Average.

Okta

  • Report Q3 2023 earnings at 4:05 p.m. ET; conference call at 5 p.m. ET
  • Expected loss: loss of 8 cents per share
  • Expected revenue: $591 million

“Like so many companies in Silicon Valley, I think Okta will have to learn to live with less [workers]”he say.

Thursday: Dollar General, Kroger, Ulta Beauty, Marvell Technology

common dollar

  • Report Q3 2022 earnings at 6:55 a.m. ET; conference call at 10 a.m. ET
  • Estimated EPS: $2.54
  • Expected revenue: $9.42 billion

Cramer points out that while analysts love the stock, the products in the company’s stores are more expensive than they used to be.

grocery

  • Report Q3 2022 earnings at 8 a.m. ET; conference call at 9 a.m. ET
  • Expected EPS: 82 cents
  • Expected revenue: $33.99 billion

“While the company is likely to deliver a good quarter, people will only be interested in the status of the company’s merger plan with Albertsons,” he said.

Great beauty

  • Report Q3 2022 earnings at 4 p.m. ET; conference call at 4:30 p.m. ET
  • Expected EPS: $4.13
  • Expected revenue: $2.21 billion

Cramer said he expects a huge amount of earnings from the company.

Magical technology

  • Report Q3 2023 earnings at 4:05 p.m. ET; conference call at 4:45 p.m. ET
  • Expected EPS: 71 cents
  • Expected revenue: 1.80 billion USD

While he’s a big believer in the stock, it probably won’t skyrocket until the industry-wide chip glut is resolved, he said.

Disclaimer: Cramer’s Charitable Trust owns shares of Salesforce.

Cramer's game plan for the trading week of November 28

Jim Cramer’s Investment Guide

Click here to listen Jim Cramer’s Investment Guide Free to help you build lasting wealth and invest smarter.

news7g

News7g: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, Sports...at the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Back to top button