Jim Cramer: Avoid Major Moves During Earnings Season
Investors should wait out the earnings season chaos and not make any major moves, according to Jim Cramer. The CNBC anchor and investor believes that the flood of earnings reports and soundbites from President Trump will create a "sheer hell week" for investors.
Cramer will be focusing on the Federal Reserve’s interest rate decision on Wednesday and earnings from several tech giants, including Microsoft, Meta, and T-Mobile. He expects good numbers from fintech company SoFi and telecom company AT&T.
On Tuesday, General Motors and Starbucks will report earnings. Cramer is optimistic about Starbucks’ new CEO and believes the stock could be worth buying after the CEO lays out his plan.
Wednesday’s Fed decision is a key event, with Cramer expecting no interest rate cut despite strong employment numbers. T-Mobile and ServiceNow will also report earnings, with Cramer predicting T-Mobile will head higher and ServiceNow could be a buy if it dips.
Thursday brings earnings from Caterpillar, Apple, and Intel. Cramer believes Apple is a good stock to own long-term, despite expectations of a miss, while Intel needs to raise cash and fix its balance sheet before investors should own the stock.
Friday’s reports from Chevron and Exxon Mobil are also on the agenda. Cramer is cautious on the oil giants, citing concerns about increased drilling following relaxed federal regulations. The Labor Department will also release the personal consumption expenditures price index, an important inflation metric for the Fed.
Overall, Cramer advises investors to "listen" and not try to make decisions during this time.