CPI data and profits of Delta and Domino’s | Wilnesh News

Cramer weighs in on whether Fed has achieved soft landing

CNBC’s Jim Cramer looks back at the most important moves affecting markets next week, highlighting new CPI data and a slew of earnings reports to start the season, including from delta, domino and several major banks. He also noted that stocks rose on Friday as Wall Street celebrated better-than-expected job creation last month.

“A market that appreciates good news, such as strong job creation data, is a market that has been able to handle a historically difficult October,” he said. “After today’s performance, all I can say is that so far so good. “

Tuesday’s gains came from Pepsi and investor day General Motors. Cramer noted a cut in the beverage company’s price target, but suggested the stock could “steady on earnings that are somewhat in line with expectations.” Meanwhile, Cramer said GM’s stock price could move higher if it maintains its forecast, adding that the company has had a strong year.

On Wednesday, the Federal Open Market Committee will release minutes from its most recent meeting, which Cramer said could shed light on the central bank’s decision to cut interest rates by a hefty 50 basis points. Wall Street continues to speculate on the Fed’s next move, he said, adding that opinions are mixed, especially after strong labor data on Friday.

The Labor Department will release its Consumer Price Index (CPI) report for September on Thursday, and Cramer said investors hoping for a rate cut would want a sober number. Domino’s and Delta Air Lines also reported earnings Thursday. Cramer said the pizza maker’s performance last quarter was disappointing, in part due to weakness in overseas operations. While Cramer said he’s cautious about airline stocks, he doubts Delta will tell “a good story.”

Cramer pointed to three big tech events on Thursday: Tesla Will launch its robot taxi AMD and Hewlett Packard Enterprise There will be an analyst day. He expects Tesla’s self-driving cars to be well received by investors. Cramer said AMD’s “Advancing Artificial Intelligence” event could showcase the company in a new light, and he recommended buying the stock ahead of the meeting. Cramer said HP’s analyst day could be “a boost” because it focuses on its artificial intelligence efforts – which he said are “substantial and undervalued.”

Cramer said a producer price index report will be released on Friday, which, like the consumer price index, will be a measuring stick for the Fed’s next decision. Large financial gains will also be announced on the day, including Wells Fargo, JPMorgan Chase and BlackRock. Banks are the cheapest group in the market and investors should take advantage of any weakness and buy into them, he said.