Expect profit-taking as earnings come in focus
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You can expect positive results starting with MerckAlthough Friday’s Covid pill was a hit with investors, Jim Cramer of CNBC says that the market will be focusing its attention on other things.
Cramer stated that Earnings Season is set to be the center of attention on Friday’s “Mad Money” show.
Investors are able to hear from financial update companies like PepsiCo Levi Strauss & CoCramer predicts that there will be a selloff in stocks in the coming week.
“I anticipate profit-taking next Week as investors refocus earnings that reflect both the Delta and the worst days,”
When investors buy shares to secure gains, they are called profit-taking.
Cramer has a game plan to get through the five next trading days.
“Mad Money” host Jim Cramer’s game plan for the trading week of Oct. 4
Monday: Update on Infrastructure Bill, Venom Box Office Results
This “Mad Money” host will be keeping an eye out for Washington as lawmakers consider a massive infrastructure stimulus package and a social spending agreement to reduce the debt ceiling.
Cramer added, “Come Monday.
Cramer also wants to see box office results for “Venom.”
Cramer stated that he bets it will be a big hit. He believes the AMC CEO Adam Aron said so.
Tuesday: European economic data and earnings from PepsiCo
Beverage giant PepsiCoReports quarterly financial results prior to the bell Tuesday
Cramer explained that although I expected good numbers, he was also worried about supply chain and freight costs. Cramer stated, “So even though Pep may surprise you in the positive, I am afraid that this rally will not last.”
Dienstag will also see data on the economy of Europe released.
He said, “I feel much more positive about Europe now that they have surpassed us in vaccination rates.”
Wednesday: Levi Strauss & Co and Constellation Brands earnings
Cramer has two favorite brands: denim brand and denim brand Levi Strauss & CoA company that produces alcoholic beverages Constellation BrandsOn Wednesday,, will report on earnings.
“From Constellation… “From Constellation… Cramer stated that although I am unsure if delta made it in, we now need to think about the future of post-delta.
He predicts that Levi Strauss will have “fabulous earnings” as the market moves into a cycle of looser and wider-legged denim.
Cramer stated, “Every few years there are periods when jeans become extremely popular. And you need to serve it with Levi’s.”
Thursday: Conagra Brands earnings
Food Corporation Conagra BrandsThe company will share its quarterly financial figures Thursday.
“Can this packaged foods company finally get out from under the doghouse ?…? My opinion is no. The pantry stocks are not safe. Cramer stated that the industry is plagued with supply chains and suggested that he would rather invest in reopening stocks.
Friday: September jobs report
He called Friday’s September nonfarm payroll report, which will be published Friday, “the most significant piece of data in the month.”
“We need a Goldilocks employment number — not too hot, not too cold — so that [Federal Reserve Chair Jerome Powell]Cramer explained that they can “keep the inflation hawks away while we wait for full-time economic recovery to occur.”
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