Jim Cramer says stocks could still gain next week, even with more inflationary data. Here’s your game plan.
Even if we get more inflationary data next week, stock prices could still head higher, Jim Cramer told his Mad Money viewers Friday. That’s because an aggressive stance on inflation from the Federal Reserve is already priced into the market. Macro issues, however, will still dominate stocks going into next week.
Cramer’s game plan for next week starts on Monday with earnings from Dave & Busters (PLAY) – Get Dave & Buster’s Entertainment, Inc. Report, which should provide a read on how restaurants are faring as our economy reopens.
The Action Alerts PLUS team says it’s been a good week for equities. In the AAP portfolio, shares of Nucor (NUE) – Get Nucor Corporation Report climbed double-digits, and core holdings Apple (AAPL) – Get Apple Inc. Report, Advanced Micro Devices (AMD) – Get Advanced Micro Devices, Inc. Report, Marvell (MRVL) – Get Marvell Technology, Inc. Report and Nvidia (NVDA) – Get NVIDIA Corporation Report also gained. Get in on the conversation and hear what they’re telling their investment club members at Action Alerts PLUS.
Next, on Tuesday, we’ll hear from spice maker McCormick (MKC) – Get McCormick & Company, Incorporated Report, semiconductors maker Micron Technology (MU) – Get Micron Technology, Inc. Report along with Lululemon Athletica (LULU) – Get Lululemon Athletica Inc Report, PVH (PVH) – Get PVH Corp. Report and RH (RH) – Get RH Report in apparel and retail sector. Cramer was bullish on all of these stocks, but noted that PVH continues to struggle with soaring cotton prices.
Wednesday brings a small business update from Paychex (PAYX) – Get Paychex, Inc. Report, along with earnings from Five Below (FIVE) – Get Five Below, Inc. Report.
Then on Thursday, we’ll hear from Walgreen Boots Alliance (WBA) – Get Walgreens Boots Alliance Inc Report, the drugstore chain that’s still not as good as rival CVS Health (CVS) – Get CVS Health Corporation Report.
We’ll end the week with the latest non-farm payroll numbers, which Cramer expects will show the tightest labor market in years, something that will force the Fed to take a tighter stance on inflation.
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