CNBC’s Jim Cramer on Friday said he expects more of the same in the week ahead of stock trading.
“Next week, once again, is all about trade and retail,” the “Mad Money” host said. “This is the week when most retailers report, so we will be listening closely to what they say about the trade war.”
Monday: Trade watch
The stock market will confront the same issues on Monday as the week prior. The days following will see a lot of retailers hold conference calls, and Cramer is looking to see what they have to say about tariffs on Chinese imports.
“The market will punish companies that source in China and reward companies that don’t, because that’s what [President Donald Trump] is doing,” he said.
Tuesday: Home Depot, TJX, Nordstrom
Home Depot: The home improvement retail giant reports earnings before the bell. Cramer is expecting weather to weigh on earnings again.
“There’s much too much rain this gardening season, and I bet that hurt them,” he said. “I still believe Home Depot can tell a decent story about trade, but it won’t matter if gardening season, their equivalent of Christmas, turns out to be a bit of a bust.”
TJX: The T.J. Maxx parent delivers its quarterly results to shareholders in the morning.
Nordstrom: The luxury department chain has an earnings call at the end of trading. The stock is down more than 20% this year and more than 27% in the past 12 months.
“At these levels, it pays you a 4% yield. I think it may be too cheap to ignore,” Cramer said.
Wednesday: Lowe’s, Target
Lowe’s: Lowe’s, the main rival to Home Depot, presents its quarterly earnings before the market opens. CEO Marvin Ellison is guiding the home rehab chain through a turnaround.
“Wall Street loves Ellison, though,” Cramer said. “If Lowe’s gets hit, either before or after the quarter, I’d be a buyer of the stock.”
Target: Target comes out with its latest results before trading begins. The stock is about $20 per share off its September high and has a 3.6% yield.
“I know it’s battling both Walmart and Amazon, which might be too much competition for any one company, ” Cramer said. “But I think CEO Brian Cornell’s doing a terrific job. You know what, I like the stock here.”
Thursday: Best Buy, Splunk
Best Buy: The tech gadget store reports earnings in the morning. The stock is up 30% this year, and Cramer is warning not to take a chance on it at current levels.
“I’m betting they’re going to have to talk about tariffs on the whole darned conference call,” he said.
Splunk: The software analytics company, one of Cramer’s “Cloud King” stocks, presents its financial report after the market closes. Cramer expects Splunk to put up a good conference call out of CEO Doug Merritt. He said Merritt continues to deliver on promises.
“I like it a lot. … [It’s got] no China exposure — I say buy,” he said.
Friday: Foot Locker
Foot Locker: The shoe retailer will lay out its quarterly report for investors before stocks start trading. With a presence in shopping centers across the country, Foot Locker carries Nike, Adidas, Under Armour and a range of other sports apparel brands in its stores.
“The stock’s been held back by trade war worries,” Cramer said. “I bet it will prove to be immune, or at least more immune than most people think.”
WATCH: Cramer breaks down the week ahead in earnings
Disclosure: Cramer’s charitable trust owns shares of Amazon.com and Home Depot.