The stock market's current run could fizzle out if October retail sales data comes in hot next week, CNBC's Jim Cramer warned on Friday.
"If we see weak retail sales and learn that things are getting very promotional in the key apparel sector, well then the market can stay strong," he said, adding: "The worse retail gets, the less damage the Fed needs to do before they declare victory."Stocks rose on Friday following lighter-than-expected October consumer price index data released the day prior that raised investors' hopes that the Fed will slow its pace of interest rate hikes.
Earnings reports from the country's biggest retailers take center stage next week, as do retail sales data for October. "While I want retail stocks to do well, oddly I have to root for a weak number [from the October report] with little inflation in order to make that happen," Cramer said. He also previewed next week's slate of earnings. All earnings and revenue estimates are courtesy of FactSet.Projected EPS: $1.32Cramer said that the economy is soft enough that shoppers are starting to trade down, which is good news for Walmart.
Just via the headline - weak retail sales, ie, less - money for profits or wages or taxes..is good for 'the market'? What market 9s that that guts people's livelihoods? Maybe this is a trick title question?
Get rid of that guy good lord
Thats ridiculous but he is ridiculous.
You still listen to this…?😂
Failure is now success…success is failure. Nothing matters anymore. Fire Jerome now.
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Source: Reuters - 🏆 2. / 97 Read more »