In the stock market, words are sometimes more important than deeds, Jim Cramer told his Mad Money viewers on Friday. This is how the Federal Reserve can curb inflation by just talking about rate hikes. Between the Fed and the seasonal weakness between now and the July 4th holidays, Cramer said we had a tough week ahead of us next week.
© TheStreet
Cramers Mad Money Recap: Amazon, AMD, FedEx
Cramer’s schedule for next week starts with more Fed-speaking. St. Louis Fed Chairman James Bullard will speak on Monday, followed by Fed Chairman Jay Powell on Tuesday. These dueling comments are likely to continue to put pressure on oil, industrials and cyclicals, with technology benefiting primarily from them. Cramer suggested buying Amazon, Nvidia, or Advanced Micro Devices for any weakness.
Loading failure
Winnings continue on Wednesday with Winnebago and KB Home. Winnebago will get strong results, but nobody seems to care. If KB Home is strong, Cramer suggested buying Lennar.
On Thursday we’ll hear from Accenture, Nike, and FedEx. Cramer said FedEx may not be able to hold its momentum and Nike is dependent on growth in China. He was optimistic about Accenture.
Finally, on Friday, we close the week with Paychex, which could be a buy if hit before it reports. Carmax will also provide information on the red-hot used car market.
Cramer and the AAP team are reviewing everything from revenue to politics to the Federal Reserve. Find out what they are saying to their investment club members and join the fun with a free trial subscription to Action Alerts Plus.
When it comes to the Fed, Wall Street has always feared its shadow. That’s why stocks have been sold the mere mention of rate hikes at least a year away. But while the impulse to react is strong when the sale starts, Cramer urged viewers to sit back, relax, and do nothing. That’s because the last week of June is historically awful for stocks and there will be even more Fed impact earlier in the week.
But that doesn’t mean there isn’t anything to buy. Cramer said he was still optimistic about technology and especially Amazon as it prepares for its annual shopping vacation, Prime Day. When the urge to buy is too great and the market is going down, Cramer has been blessed to buy some Amazon into that weakness so you will be ready for the post July 4th stock market rally.
On Real money, Cramer shares information about the companies and CEOs he knows best. Get more of his insights with a free trial subscription to Real Money.
Browse Jim Cramer’s “Mad Money” trading recommendations with our exclusive “Mad Money” stock screener.
To watch reruns of Cramer’s video segments, visit the Mad Money page on CNBC.
To sign up for Jim Cramer’s free Booyah! Newsletter with all of his latest articles and videos please click here.
At the time of publication, Cramer’s Action Alerts PLUS had no position in the named holdings.
This article was originally published by TheStreet. Continue reading
Show complete articles without the “Continue reading” button for {0} hours.
