CNBC’s Jim Cramer offers a preview of next week’s busy earnings schedule, which includes quarterly reports from companies such as Clorox and Disney. The “Mad Money” host also argues there is still too much uncertainty about the coronavirus and the stock market. Cramer then takes viewers’ calls on eBay and Peloton.
The week ahead
So far, companies that are reported earnings have had generally good numbers, CNBC’s Jim Cramer said.
But that fact has been massively overshadowed by the fast-spreading coronavirus, which means the focus heading into next week, the “Mad Money” host said.
“We hoped to take the temperature of the moment,” Cramer said. “We didn’t realize the only temperature this market cares about is one that’s well north of 98.6 degrees, because right now Wall Street only has eyes for the coronavirus.”
Coronavirus is a wild card for investors
A worker in protective suit disinfects the Dongxinzhuang village, as the country is hit by the new coronavirus, in Qingdao, Shandong province, China January 29, 2020.
cnsphoto via Reuters
The coronavirus outbreak remains a highly dynamic situation, and investors need to approach it with extreme caution, CNBC’s said Friday.
“You need to be prepared and remember my wild card thesis,” the “Mad Money” host said. “We don’t know what’s going to happen with this virus.”
While it’s clear there may be immediate short-term impacts on the Chinese economy, the bigger picture remains highly opaque, Cramer said.
Cramer’s lightning round
“Peloton, I think, is going to have a good quarter … The company’s done very well. I think they’re going to have a very good story to tell.”
“They had a non-chill quarter frankly. I was really disappointed with them. Just keep moving. Look away from that one.”
: “This one is coming down. It’s China. It should never have been as high as it is. This is a Chinese coffee company. I think you take a pass. I don’t want you near it.”