How Powell and the Fed might respond to Fed Ex caution

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Cramer's week ahead: FedEx's warning shows the Fed is further along in inflation battle than expected

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CNBC’s Jim Cramer on Friday stated that Fed Ex’s caution of aggravating financial conditions recommends the Federal Reserve is doing much better in its inflation effort than anticipated– suggesting the reserve bank might take an action back after its conference next week.

“If Fed chief Jay Powell watched our interview last night … he might discover that he’s made more progress whipping inflation than he might realize,” Cramer stated.

“Maybe Powell will hit us with another 75 basis point hike right here and then say maybe it’s time to take a more measured approach in order to assess how things are going,” he included.

The “Mad Money” host’s remarks followed Fed Ex, a bellwether business for the state of the economy, cautioned on Thursday of a decrease in international deliveries and an upcoming world economic crisis.

Stocks shut down on Friday as Wall Street absorbed the news, with the significant averages tape-recording their 4th losing week in the previous 5 weeks.

Cramer likewise previewed next week’s slate of incomes. All incomes and profits price quotes are thanks to FactSet.

Monday: AutoZone

  • Q4 2022 incomes release at 6: 55 a.m. ET; teleconference at 10 a.m. ET
  • Projected EPS: $385
  • Projected profits: $5.16 billion

Cramer stated he has an interest in understanding if business authorities see an end to the vehicle scarcity.

Tuesday: Nvidia

  • GTC Financial Analyst Q&A at 1 p.m. ET

Cramer stated he’s sticking to Nvidia in spite of the stock’s current topples. “That’s how Nvidia behaves — you get terrifyingly swift moves down followed by long rallies.”

Wednesday: General Mills, Salesforce, Lennar, KB Homes

General Mills

  • Q1 2023 incomes release at 7 a.m. ET; teleconference at 9 a.m. ET
  • Projected EPS: $1
  • Projected profits: $4.72 billion

The business will likely be a winner since it’s a best-of-breed food stock in an unsure financial environment, Cramer forecasted.

Salesforce

  • Investor Day at 4 p.m. ET

Cramer stated that while he does not anticipate to hear anything that might inspire him to purchase the stock, he’s still bullish long term.

Lennar

  • Q3 2022 incomes release at 4: 30 p.m. ET; teleconference on Thursday at 11 a.m. ET
  • Projected EPS: $4.86
  • Projected profits: $8.97 billion

KB Home

  • Q3 2022 incomes release in between 4: 10 to 4: 20 p.m. ET; teleconference at 5 p.m. ET
  • Projected EPS: $2.66
  • Projected profits: $1.88 billion

Cramer stated he anticipates both Lennar and KB Home to be soft due to skyrocketing home mortgage rates.

Thursday: Costco, Fed Ex, Qualcomm

Costco

  • Q4 2022 incomes release at 4: 15 p.m. ET; teleconference at 5 p.m. ET
  • Projected EPS: $4.17
  • Projected profits: $708 billion

Cramer stated he hopes the stock decreases so that the Investing Club can purchase more.

Fed Ex

While the business might expose more info on its most current quarter, its trajectory most likely will not alter considering that it currently reported frustrating lead to its initial statement, Cramer stated.

Qualcomm

  • Automotive Investor Day at 3 p.m. ET

Cramer stated that the business will flaunt the “new Qualcomm” throughout the occasion.

Disclaimer: Cramer’s Charitable Trust owns shares of Costco, Salesforce, Nvidia and Qualcomm.

Cramer's game plan for the trading week of Sept. 19

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