Cramer Says Big Macro Data, Fed Meetings Obscure Real Opportunities, Wants Investors To Keep 'Eyes Open'

This week has some key catalysts, including the consumer price inflation report for November, the Federal Open Market Committee meeting and the November retail sales report.

What Happened: The big macro numbers and important Fed meetings are a drag, which obscure actual opportunities, CNBC “Mad Money” host Jim Cramer said last weekend.

“I want you to keep your eyes open for ideas and not be blinded by the [Federal Reserve] light,” he added.

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The stock picker said the market needs to see a cooler consumer price index and the Fed raising the fed funds rate by 50 basis points and saying it will take some time to assess the situation before tightening again.

Key Earnings Cramer’s Watching: The key earnings reports scheduled for the week include:

  • Coupa Software Inc. COUP and Oracle Corp. ORCL on Monday.
  • Homebuilder Lennar Corp. LEN on Wednesday.
  • Adobe Systems Inc. ABDE on Thursday.
  • Darden Restaurants Inc. DRI and Accenture plc ACN on Friday.

Cramer also said he would watch out for Eli Lilly & Co’s LLY guidance call on Tuesday. He recommended waiting until the call, scheduled for 9 a.m. EST, to buy the stock.

Price Action: The SPDR S&P 500 ETF Trust SPY, an exchange-traded fund that tracks the broader S&P 500 Index, ended Friday's session down 0.75%, at $393.28, according to Benzinga Pro data.

Read Next: Musk Warns Another Rate Hike Will 'Greatly Amplify' Recession; Here's When 'Things Probably Start Looking Better'

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Posted In: NewsEconomicsFederal ReserveMediaTrading Ideasconsumer price inflationFederal Open Market CommitteeJim Cramer
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