Earnings from Nvidia, TJX and Walmart
CNBC’s Jim Cramer on Friday highlighted the biggest events next week on Wall Street, pinpointing earnings reports from Nvidia, TJX and Walmart. And as postelection worries create an uncertain market landscape, he advised that investors proceed with caution.
“Look, I’ve told you that there are many pitfalls with individual stocks when it comes to Trump 2.0. Most of them are buying opportunities,” he said. “But with stocks still up so much from a few months ago, you can’t be too eager to buy the dips.”
On Monday, Cramer will be waiting for an investor meeting from Vertiv, which supplies companies with products need for data centers. He noted that the outfit is largely immune to any issues that might arise when President-elect Donald Trump takes office. He said investors could open a small position in the company, but that he’d rather wait for a little more weakness to buy.
Tuesday brings earnings from Walmart, Lowe’s, Medtronic and Viking Holdings. Cramer praised the two retailers but said investors might want to wait for a pullback before diving in to Walmart. Similar to Home Depot, home improvement retailer Lowe’s tends to do well when the Federal Reserve cuts rates, he added. Medtronic has been a winner so far, Cramer continued, incorporating artificial intelligence into some of its medical devices. He also said that luxury cruise line Viking could be a good buy before and after earnings.
Retailers TJX, Target and Williams-Sonoma will report Wednesday morning. Cramer recommended investors “wait and see” with Target as Wall Street worries about the impact of potential tariff increases by the Trump administration. TJX, he noted, has a tendency to sell off when it reports, while Williams-Sonoma can “catch on fire” during a rate cutting cycle. After the market closes, Palo Alto Networks and Nvidia report, and Cramer said both could sell off post-earnings.
On Thursday, Gap and Intuit are set to report. Cramer said he’d be a buyer of the clothing retailer ahead of the quarter. And while he said he likes enterprise software outfit Intuit, he “can’t get excited” about the stock until it cools off. Procter & Gamble and GE Healthcare Technologies will host investor days Thursday. Cramer said the consumer goods company has valuable insight into topics including China, raw costs and tariffs. He added that the medical technology company can tell a good story that will resonate with investors.
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Disclaimer The CNBC Investing Club Charitable Trust holds shares of Nvidia, TJX, GE Healthcare, Home Depot and Palo Alto Networks.
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