CNBC’s Jim Cramer on Monday told investors that the Federal Reserve’s actions this week could lead to a bull market.
“If [Fed Chair] Jerome Powell says, ‘we’re getting a 75 basis point rate hike and then we’ll see what happens’ … then you might get a rip-snorting rally,” the “Mad Money” host said.
“On the other hand, if he says we’re doing the triple-rate hike and then we’re willing to keep tightening no matter what, including a possible inter-meeting hike if the CPI stays hot, then we are definitely going lower,” he added, referring to June’s hotter-than expected 9.1% inflation reading.
The Federal Reserve will conclude its two-day meeting on Wednesday, and many analysts expect a 75 basis point rate hike.
Cramer also previewed this week’s slate of earnings. All earnings and revenue estimates are courtesy of FactSet.
• Q2 2022 earnings release at 6:30 a.m. ET; conference call at 8 a.m. ET
Cramer said he’s not bullish on GE – yet.
• Q2 2022 earnings release at 4 p.m. ET; conference call at 5 p.m. ET
• Q4 2022 earnings release at 4:05 p.m. ET; conference call at 5:30 p.m. ET
Cramer said he believes both Alphabet and Microsoft could have standout quarters.
• Q2 2022 earnings release at 7:30 a.m. ET; conference call at 10:30 a.m. ET
He said he’s doubtful that Boeing will report a solid quarter given the ongoing worker strikes and no federal go-ahead for its 787 Dreamliner commercial jets.
• Q2 2022 earnings release at 4:05 p.m. ET; conference call at 5 p.m. ET
Meta will likely report an earnings beat and forecast cut, Cramer predicted. “Once the expectations get low enough, though, for the metaverse, then the stock becomes a solid buy,” he said.
• Q2 2022 earnings release at 4:05 p.m. ET; conference call at 5 p.m. ET
Cramer believes the carmaker will report that it’s sold out of many models.
• Q2 2022 earnings release at 4:10 p.m. ET; conference call at 5 p.m. ET
“We had CEO Bill McDermott on last month and he talked about tougher times in Europe. His stock got hit hard in response — now we’ll find out if that was an overreaction,” he said.
• Q3 2022 earnings release at 4:30 p.m. ET; conference call at 5 p.m. ET
“Own it, don’t trade it,” Cramer said.
• Q2 2022 earnings release at 4 p.m. ET; conference call at 5:30 p.m. ET
Cramer said Amazon’s stock price could open “very low” at Tuesday’s market open after Walmart cut its profit outlook Monday, dragging the e-commerce giant’s stock down after-hours.
• Q2 2022 earnings release at tbd time; conference call at 11 a.m. ET
Cramer said he believes Chevron will deliver great results in its latest quarter, even if analysts are growing increasingly skeptical of the company’s ability to perform.
• Q4 2022 earnings release at 6:55 a.m. ET; conference call at 9 a.m. ET
“If Procter comes in, I’d treat that as a buying opportunity – after it reports though,” Cramer said.
