CNBC market analyst Jim Cramer emphasized the importance of the upcoming week for investors, spotlighting significant data and earnings reports due on Wall Street.
Cramer underscored the release of new consumer price index (CPI) figures and the performance reports from leading retailers such as Target TGT, Home Depot HD, Walmart WMT and Macy's M, according to a news report by CNBC.
Cramer noted the recent positive trend in the stock market, linking it to stable interest rates.
"This market's had a very solid winning streak of late. Remember that it wouldn't be happening if interest rates were still climbing," he remarked. Stability in rates forms the essential backdrop for this scenario — businesses reporting positive developments will likely increase their stock values. However, it's crucial to remember that bond markets, currently benign, still hold significant sway.
This weekend will feature a crucial event from the American Heart Association, where new findings on weight loss drugs and their impact on heart disease will be discussed.
Cramer anticipates this could spark interest in stocks of pharmaceutical companies like Novo Nordisk NVO and Eli Lilly And Company Common LLY, potentially driving their market performance.
Key Reports And Forecasts
On Monday, Cramer plans to observe the ripple effect of smaller-cap tech stocks, particularly after Monday.Com Ltd.'s MNDY report, on larger companies such as Salesforce CRM, ServiceNow NOW, and consulting giant Accenture ACN.
Cramer expressed hope for "surprisingly cool" CPI figures on Tuesday. Cramer suggested closely watching Home Depot's forecast in light of high mortgage rates.
Wednesday is set to unveil an overall retail sales report, which Cramer suspects could be underwhelming. He highlighted Target, current worst of the retail bunch, as a critical watch, in addition to Walmart and Macy's reports on Thursday.
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