Commodities

There could be ‘real signs’ for the Fed to slow down


CNBC’s Jim Cramer on Friday said that next week’s jam-packed week of earnings and economic data releases could result in good news for the Federal Reserve’s battle against inflation.”This market’s trading like next week, we’ll see some real signs that the Fed’s winning its war on inflation, and they can, therefore, ease up on the rate hikes going forward… I wouldn’t be at all surprised if the market got it exactly right,” he said.Cramer named two important economic events he’s watching next week: the FOMC’s next meeting, which is expected to conclude with a 0.75 percentage point interest rate increase, and the non-farm payroll report.”You can’t get a reduction in wages until you see many people losing their jobs, and that’s what the Fed needs to see,” he said.Cramer also previewed next week’s slate of earnings. All earnings and revenue estimates are courtesy of FactSet.Tuesday: Eli Lilly, Uber, Devon Energy, AMDEli LillyQ3 2022 earnings release at 6:25 a.m. ET; conference call at 9 a.m. ETProjected EPS: $1.91Projected revenue: $6.89 billionThe company has the chance to shine now that healthcare stocks are some of the new market leaders, he said.UberQ3 2022 earnings release at 7:05 a.m. ET; conference call at 8 a.m. ETProjected loss: loss of 18 cents per shareProjected revenue: $8.11 billionCramer said that if the company reports that there’s plenty of drivers but customers can’t afford rides, that’ll be great news for the Federal Reserve.Devon EnergyQ3 2022 earnings release at 4:05 p.m. ET; conference call on Wednesday at 11 a.m. ETProjected EPS: $2.12Projected revenue: $4.16 billionWhile the company is doing well, investors shouldn’t buy shares of oil companies when the economy is weakening, he warned.AMDQ3 2022 earnings release at 4:15 p.m. ET; conference call at 5 p.m. ETProjected EPS: 70 centsProjected revenue: $5.69 billionCramer said he’s interested in knowing if AMD is losing market share to Intel.Wednesday: Humana, CVS, QualcommHumanaQ3 2022 earnings release at 6:30 a.m. ET; conference call at 9 a.m. ETProjected EPS: $6.27Projected revenue: $22.82 billionCVSQ3 2022 earnings release at 6:30 a.m. ET; conference call at 8 a.m. ETProjected EPS: $2Projected revenue: $76.74 billion”I fear that CVS is considered a Covid play. Humana is a post-Covid darling,” Cramer said.QualcommQ4 2022 earnings release at 4 p.m. ET; conference call at 4:45 p.m. ETProjected EPS: $3.14Projected revenue: $11.33 billionHe said he wouldn’t be surprised if the stock went up even on a guidance cut, given how much shares of Qualcomm have declined this year.Thursday: Starbucks, PayPal, DoorDashStarbucksQ4 2022 earnings release at 4:05 p.m. ET; conference call at 5 p.m. ETProjected EPS: 72 centsProjected revenue: $8.32 billionHe said he expects the company to report a solid quarter.PayPalQ3 2022 earnings release at 4:15 p.m. ET; conference call at 5:30 p.m. ETProjected EPS: 96 centsProjected revenue: $6.81 billion”I think PayPal has a chance to regroup here, as their flagging days have probably ended,” Cramer said.DoorDashQ3 2022 earnings release at 4:05 p.m. ET; conference call at 5 p.m. ETProjected loss: loss of 59 cents per shareProjected revenue: $1.63 billionHe said that DoorDash is “inviting skepticism,” since people aren’t getting their food delivered as frequently as they did during the height of the Covid pandemic.Disclaimer: Cramer’s Charitable Trust owns shares of Eli Lilly, Devon Energy, AMD, Humana, Qualcomm and Starbucks.Jim Cramer’s Guide to InvestingClick here to download Jim Cramer’s Guide to Investing at no cost to help you build long-term wealth and invest smarter.

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