Cramer’s week forward: A ‘dangerous news is good news’ kind of market

CNBC’s Jim Cramer mentioned Thursday he will not be stunned if the March jobs report is smooth.

“Yesterday, I suggested that the counter-trend rally in tech could continue for a few more days before it ebbs,” the “Mad Money” host mentioned. “So far that forecast stands, but without a cool employment number tomorrow, I expect the reopening stocks — think the banks and the industrials — to come back into vogue on the Wall Street fashion show.”

While the market will likely be closed in observance of Good Friday, the Labor Department is scheduled to launch March hiring information.

Cramer’s feedback come after a banner day for the S&P 500, which crossed over the 4,000 degree for the primary time in the course of the buying and selling day.

Stocks managed to rise after the Labor Department launched a disappointing weekly jobless declare quantity within the morning. The division reported that 719,000 employees filed first-time claims for jobless advantages final week, a lot larger than economists had forecast.

“Welcome back to Bizarro Wall Street, where bad news is good news, at least when it comes to the economy,” the “Mad Money” host mentioned.

Investors who need to see inventory costs climb larger are going to need to see sturdy earnings experiences from final quarter and extra non-inflationary news that’ll discourage the Federal Reserve from mountain climbing rates of interest, Cramer mentioned.

Cramer gave his sport plan for the week forward. Earnings-per-share projections are primarily based on FactSet estimates:

Tuesday: Paychex experiences


  • Q3 2021 earnings launch: earlier than market; convention name: 9:30 a.m.
  • Projected EPS: 92 cents
  • Projected income: $1.11 billion

“I expect it to trade down no matter what the company has to say. It’s become a post-earnings pattern,” Cramer mentioned. “There are a bunch of negative analysts who’ve been wrong all the way up. They’ll most likely stay wrong, giving you a chance to buy Paychex on weakness, even if it reports a great quarter.”

Thursday: Constellation Brands, Conagra Brands and Levi Strauss report

Constellation Brands

  • This fall 2021 earnings launch: earlier than market; convention name: 11:30 a.m.
  • Projected EPS: $1.55
  • Projected income: $1.86 billion

“Constellation got hit with a negative research piece the other day that suggested the beer and liquor company, which is a fantastic grower, might deliver a light quarter thanks to weakness in Texas,” Cramer mentioned. “The devastation from the superstorm Uri … may actually hurt their earnings. Texas is a big market for them.”

Conagra Brands

  • Q3 2021 earnings launch: 7:30 a.m.; convention name: 9:30 a.m.
  • Projected EPS: 58 cents
  • Projected income: $2.72 billion

“I do worry, as with all the other food companies, that Conagra might temper its forecast because of concerns about the great reopening, but this has been one of the standouts in a pretty anemic group.”

Levi Strauss

  • Q1 2021 earnings launch: after market; convention name: 5 p.m.
  • Projected EPS: 24 cents
  • Projected income: $1.25 billion

“I just wish Levi Strauss stock hadn’t run so much going into the quarter. We know PVH ran up huge into its results and then the stock got blasted after a fairly good number, so why don’t we see how Levi’s behaves going into the earnings.”

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