Market Momentum: What to Expect Next Week
As earnings season heats up, investors are on high alert for market-moving action. Despite rising interest rates and election uncertainty, the market has been on a winning streak for six straight weeks. But what’s driving this momentum, and what can we expect next week?
Monday: SAP and Nucor Take Center Stage
German software giant SAP is expected to report a positive quarter, thanks to its successful tech strategies, including artificial intelligence adoption. Meanwhile, steel giant Nucor’s report is less certain, given weak steel prices, but history suggests steelmakers’ stocks often turn around after the first rate cut.
Tuesday: A Slew of Big Names Report
General Motors, Danaher, RTX, and GE Aerospace are among the big names reporting on Tuesday. Cramer predicts a bargain opportunity for General Motors, despite Wall Street pessimism, and expects positive results from the aerospace giants. Biotech Danaher may also be due for a comeback with new clients on board. Kimberly-Clark, Norfolk Southern, and Texas Instruments also report on Tuesday, with Cramer optimistic about the consumer goods giant and the railroad.
Wednesday: Boeing, Coca-Cola, and Vertiv
Boeing, Coca-Cola, and Vertiv release earnings on Wednesday. Despite poor management, big institutions continue to buy Boeing’s stock. Cramer advises waiting until after the secondary offering to invest. Coca-Cola is a “low-risk juggernaut” worth owning, while Vertiv’s strong performance in the data center space makes it an attractive option.
Thursday: IBM, Tesla, Lam Research, and T-Mobile
IBM is expected to deliver a beat and raise quarter, while Tesla’s CEO Elon Musk will likely “try harder” after the robotaxi event flop. Lam Research may fare better than peer ASML, but it’s a risky bet. T-Mobile’s winning streak is also on the line. Southwest Airlines, Honeywell, UPS, Carrier, Deckers Outdoor, and Texas Roadhouse round out Thursday’s reports.
Friday: Colgate-Palmolive Wraps Up the Week
Colgate-Palmolive reports on Friday, with Cramer predicting Wall Street will love the stock, but warning that such enthusiasm may be overdone.
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