Jim Kramer of CNBC warned investors on Friday that the rally in the market has no chance of surviving until the causes of the shock are eliminated.

“If we want the market to make a significant return, we need China to reopen, Russia to leave Ukraine and [Federal Reserve] to curb inflation by raising the rate by 100 basis points, – said the host of “Mad Money”. Unfortunately, only one of these three is under American control. “

His comments come after a volatile trading week caused by lost quarters of profits from retail giants, heightened investor concerns about inflation and global geopolitical tensions.

The S&P 500 closed about 19% below its record, and the Nasdaq Composite reached 30% of its highs in the bear market. The Dow Jones Industrial Average recorded its first eight-week losing streak since 1923.

In addition to outlining his views on the current market, Kramer looked at next week’s earnings list and expressed his views on each company reporting. All revenue and revenue estimates are provided by FactSet.

Monday: Increase

  • Publication of earnings for the 1st quarter of 2023 after closing; Conference call at 5pm ET
  • Estimated earnings per share: 96 cents
  • Estimated profit: $ 1.23 billion

Kramer said Zoom shares will remain in decline unless the company innovates or acquires another company that helps it do so.

Tuesday: Best Buy, AutoZone, Toll Brothers

The best buy

  • Revenue issue for the 1st quarter of 2023 before the call; Conference call at 8 a.m. ET
  • Estimated earnings per share: $ 1.59
  • Estimated revenue: $ 10.45 billion

Kramer noted that while he usually encourages investors to buy Best Buy stocks at their current price, buying anything lately has been risky.

AutoZone

  • Revenue generation for the third quarter of 2022 before the call; Conference call at 10 a.m. ET
  • Estimated earnings per share: $ 26.20
  • Estimated profit: $ 3.71 billion

Kramer said the company’s shares are gaining.

Toll Brothers

  • Publication of earnings for the second quarter of 2022 after closing; Conference call at 8:30 a.m. ET
  • Estimated earnings per share: $ 1.50
  • Estimated profit: $ 2.08 billion

“Most skeptics … think that incomes will be halved in the future, if not more,” Kramer said.

Wednesday: Nvidia

  • Publication of earnings for the 1st quarter of 2023 after closing; Conference call at 5pm ET
    Estimated earnings per share: $ 1.30
  • Estimated profit: $ 8.12 billion

“The action on the eve of the quarter was horrible. … I actually think the press will be good, I just don’t know if it will matter to anyone,” Kramer said.

Thursday: Macy’s, Costco

Macy

  • Revenue issue for the 1st quarter of 2022 before the call; Conference call at 8 a.m. ET
  • Estimated earnings per share: 82 cents
  • Estimated revenue: $ 5.33 billion

Macy’s has a product line similar to Target that reported worse-than-expected earnings this quarter, Kramer noted.

Costco

  • Publication of revenue for the third quarter of 2022 at 16:15 ET; Conference call at 5pm ET
  • Estimated earnings per share: $ 3.04
  • Projected income; $ 51.32 billion

Kramer said while the company is doing well, its shares have fallen so much that huge special dividends and buyouts may be the only thing that could force its rally.

Friday: Canopy growth

  • Publication of revenue for the 4th quarter of 2022 before the call; Conference call at 10 a.m. ET
  • Estimated earnings per share: $ 10.70
  • Estimated profit: $ 130 million

“Canopy needs national legislation that promotes marijuana use, not just legalization, but subsidies,” to keep its stockpiles up to previous highs, Kramer said.

Disclosure: Cramer’s Charitable Trust owns shares in Costco and Nvidia.

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