CNBC’s Jim Cramer said Friday that investors could be in for a relatively quiet week with only a handful of major earnings reports and corporate events scheduled as Wall Street weathers a historically difficult September.
“Remember, September is the cruelest month,” the “Mad Money” host said. “Right now it’s OK – not great – but I’m hoping for a few weeks of relative calm.”
of Dow Jones Industrial Average It bore the brunt of the Federal Reserve’s quarter-point interest rate hike on Wednesday. The blue-chip index fell 1.7% for the week as policymakers hinted at the possibility of further tightening. of S&P500 It fell 0.1%. On the other hand, high-tech Nasdaq Composite It held up better, rising 0.7% as investors returned to AI trading after losses earlier in the week.
Looking to the week ahead, Kramer said the most significant corporate event will come on Wednesday. Octa Analyst meeting held.
Cramer said he was impressed with Okta CEO Todd McKinnon in an interview this week. sales force Dreamforce annual conference explains how Okta’s identity security technology can be extended to AI agents. McKinnon argued that the company could identify individual agents and track their activities, potentially providing a way to thwart malicious AI systems.
“I thought, how is it possible that there are so many really smart people at AI companies that they are making us all worry about practical cyber solutions,” Kramer said. “Why aren’t they talking to cybersecurity people?”
Before that, the housing builder KB Home It was reported on Tuesday. Cramer expects the results, similar to what he’s heard from investors, to reinforce the challenges facing the housing industry in a tightening interest rate environment. lenner Early last week.
Wednesday brings in revenue from uniform rental providers Cintas and a payroll company Paychexwith large exposure to small and medium-sized enterprises. Cramer said both sides come into the report with momentum because that part of the economy remains strong and has historically been able to withstand the onset of a tightening cycle.
general mills reported on Wednesday, Kramer remains cautious about the processed food company. He cited rising input costs, the rise of GLP-1 weight loss drugs and pressure on processed foods as challenges weighing on the business. “I don’t recommend it,” he said.
Darden Restaurants reported Thursday that Kramer said Olive Garden’s parent company could rise further with strong execution. However, he prefers blinker internationalthe Chilean owner claimed it offered stronger growth prospects.
off price retail store costco The week ends with reporting after the bell on Thursday. Mr. Kramer said stock prices have been depressed and he will listen for signs of whether retailers are having trouble retaining younger members. Cramer’s Charitable Trust, a portfolio managed by CNBC’s investment club, owns Costco stock.
