Cramer’s week ahead: A ‘bad news is good news’ kind of market

CNBC’s Jim Cramer talked about Thursday he received’t be taken aback if the March jobs sigh is tender.

“The old day, I urged that the counter-type rally in tech would possibly per chance continue for about a more days before it ebbs,” the “Angry Money” host talked about. “To this point that forecast stands, nonetheless with out a groovy employment number the following day, I rely on the reopening stocks — think the banks and the industrials — to scheme encourage encourage into vogue on the Wall Boulevard model show conceal.”

While the market will likely be closed in observance of Fair correct Friday, the Labor Division is scheduled to release March hiring files.

Cramer’s comments scheme after a banner day for the S&P 500, which crossed over the 4,000 level for the foremost time all the scheme thru the trading day.

Shares managed to rise after the Labor Division released a disappointing weekly jobless mumble number in the morning. The department reported that 719,000 workers filed first-time claims for jobless advantages final week, considerable higher than economists had forecast.

“Welcome encourage to Bizarro Wall Boulevard, where immoral news is factual news, now not now not as a lot as when it involves the economy,” the “Angry Money” host talked about.

Merchants who desire to hang stock prices climb higher are going to desire to hang solid earnings reports from final quarter and more non-inflationary news that’ll discourage the Federal Reserve from hiking curiosity rates, Cramer talked about.

Cramer gave his game thought for the week ahead. Earnings-per-portion projections are in keeping with FactSet estimates:

Tuesday: Paychex reports

Paychex

  • Q3 2021 earnings release: before market; conference call: 9: 30 a.m.
  • Projected EPS: 92 cents
  • Projected income: $1.11 billion

“I rely on it to alternate down it would now not topic what the firm has to order. It be change into a post-earnings sample,” Cramer talked about. “There are a bunch of adversarial analysts who’ve been inferior the entire scheme up. They are going to in all likelihood shield inferior, providing you with an opportunity to purchase Paychex on weakness, even if it reports a large quarter.”

Thursday: Constellation Brands, Conagra Brands and Levi Strauss sigh

Constellation Brands

  • Q4 2021 earnings release: before market; conference call: 11: 30 a.m.
  • Projected EPS: $1.55
  • Projected income: $1.86 billion

“Constellation got hit with a adversarial study allotment the different day that urged the beer and liquor firm, which is a sexy grower, would possibly per chance snarl a gradual-weight quarter ensuing from weakness in Texas,” Cramer talked about. “The devastation from the superstorm Uri … would possibly per chance fair of direction ruin their earnings. Texas is a tall marketplace for them.”

Conagra Brands

  • Q3 2021 earnings release: 7: 30 a.m.; conference call: 9: 30 a.m.
  • Projected EPS: 58 cents
  • Projected income: $2.72 billion

“I fabricate fright, as with the entire other meals companies, that Conagra would possibly per chance temper its forecast ensuing from concerns regarding the enormous reopening, nonetheless this has been in truth one of many standouts in a fairly anemic group.”

Levi Strauss

  • Q1 2021 earnings release: after market; conference call: 5 p.m.
  • Projected EPS: 24 cents
  • Projected income: $1.25 billion

“I correct wish Levi Strauss stock hadn’t shuffle so considerable going into the quarter. We know PVH ran up enormous into its results after which the stock got blasted after a fairly factual number, so why manufacture now not we hang how Levi’s behaves going into the earnings.”