As earnings become the focus, profit-taking is expected

Read Time:2 Minute, 55 Second

The positive test result comes from MerckOn Friday, the new Covid pill wowed investors, but CNBC’s Jim Cramer believes that the market will soon turn its attention to other places.

“The profitable season is about to become the focus,” Kramer said on his “Crazy Money” show on Friday.

When investors hear financial updates from companies such as Pepsi with Levi Strauss In the coming week, Kramer expects that certain stocks may sell off.

“I expect profit taking next week as investors refocus on returns that reflect the worst days and Delta variables,”

Profit taking is when investors sell stocks to lock in gains after they have risen sharply.

The following is Kramer’s game plan for the next five trading days:

“Crazy Money” hosts Jim Cramer’s game plan for trading week on October 4th

Monday: Infrastructure bill update, “Venom” box office results

The “Mad Money” host is paying close attention to Washington, where lawmakers are considering a major infrastructure stimulus plan, social spending agreement and addressing the debt ceiling.

“By Monday, I bet we will forget Merck’s antiviral drugs… because Congress is trying to pass an infrastructure bill and raise the debt ceiling,” Kramer said.

Kramer is also looking for “Venom” box office results.

Kramer said: “I bet this will be a huge blow, possibly the biggest since the pandemic, at least based on what I heard from AMC CEO Adam Allen.”

Tuesday: Pepsi-Cola earnings, European economic data

Beverage giant Pepsi The quarterly financial results will be announced before the close on Tuesday.

“Although I am looking forward to good numbers, I am also worried about shipping and supply chain issues,” Kramer said. “So even if Pep gives you an upside surprise, I worry that the upside will be short-lived.”

European economic data is also scheduled to be released on Tuesday.

“Since they surpassed us in vaccination rates, my view of Europe has become more constructive,” the host said.

Wednesday: Levi Strauss & Co and Constellation Brands earnings

Cramer’s two favorite names, denim brands Levi Strauss And alcoholic beverage company Constellation brand, Is scheduled to report earnings on Wednesday.

“From Constellation…I am looking forward to some very good Corona and Modelo data because people are starting to go out more. I do want to know if delta will decrease, but now we have to consider post-delta,” Cramer said.

The host predicts that Levi Strauss’ profit results will be “incredible” because the market is in the midst of a denim cycle focusing on wide-leg and loose-cut jeans.

“Every few years, we will catch up with the period when jeans are so popular, and you have to work with Levi’s,” Kramer said.

Thursday: Conagra Brands earnings

Food company ConAgra Brand The quarterly financial data is scheduled to be released on Thursday.

“Can this packaged food company finally get rid of the kennel?… I don’t think so. I don’t believe in pantry. This industry is troubled by the supply chain,” Kramer said, noting that he prefers Instead, invest in reopening stocks.

Friday: September Employment Report

The host called the September non-agricultural employment report scheduled to be released on Friday “the most important data of the month.”

“We need a Goldilocks employment-not too hot, not too cold-this way [Federal Reserve Chair Jerome Powell] We can stop the inflation hawks while we wait for the economy to fully reopen,” Kramer said.

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