- CNBC's Jim Cramer guided investors through next week's Wall Street action, looking at reports from several retail outfits as well as semiconductor giant Nvidia.
- Tuesday will see reports from Best Buy, Burlington, Dick's Sporting Goods, Kohl's, Nordstrom and Lowe's.
CNBC's Jim Cramer guided investors through next week's Wall Street action, pinpointing earnings reports from numerous retailers, as well as semiconductor giant Nvidia.
"Next week is historically a pretty positive time, but I'm cognizant that we've had a big run here," Cramer said. He said he's optimistic next week will be strong, albeit short, "if we get a continuation of the rotation into beaten down retailers, along with a huge guide-up by Nvidia."
On Monday night, Cramer said he'll be waiting on a report from Zoom, wondering if the stock will be able to break out of its Covid funk. But he admitted that may prove difficult due to the popularity of Microsoft's rival video conferencing platform.
Cramer said Tuesday brings a "deluge" of earnings from retail companies: Best Buy, Burlington, Dick's Sporting Goods, Kohl's, Nordstrom and Lowe's. To Cramer, many of these companies' quarters are difficult to predict, especially Burlington and Dick's Sporting Goods. He expressed pessimism about Nordstrom, saying he "can't think of a way to save" the retailer, except for a merger. But he suggested that Best Buy could surprise to the upside.
Nvidia will also report on Tuesday, and Cramer reiterated that investors should own the stock because it is the "king" of AI semiconductors. However, he advised against buying ahead of the quarter because of the stock's recent huge run.
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Agriculture equipment manufacturer Deere reports on Wednesday. Cramer said the company has been a "consistent winner" for years but has seen issues due to declines in grain prices. Cramer will be waiting to see if the company's strategy during the down cycle proves to be effective.
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