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Janet Yellen, chair of the U.S. Federal Reserve.
Now, as earnings reports start tapering out, Cramer says market watchers need to turn to the Federal Reserve for clues on how the economy is faring.
Minneapolis Fed President Neel Kashkari, a known dove, will speak on Monday to his vision of the economy. Cramer expects it to be cautious, but noted that the more hawkish Philadelphia Fed President Patrick Harker will also speak and is likely to express a more positive outlook.
“Will they cancel each other out?” Cramer wondered. “Who knows. All I can say for sure is their utterances will dominate the action next week now that the earnings season is indeed winding down.”
Along with Red Robin’s analyst meeting, Take-Two Interactive, the video game maker behind the Grand Theft Auto franchise, will also report earnings, and it’s no secret that Cramer loves how the rise of gaming correlates with the emerging stay-at-home economy.
Lowe’s and Tiffany & Co. will report earnings before Wednesday’s bell, and PVH will report after the close. In the game of “is retail strong or weak,” Cramer expects all three to be strong.
He expects good things for Lowe’s because Home Depot’s earnings were so strong, positive trends for Tiffany because the dollar will no longer be a drag on its numbers and sales have been up, and a great story for PVH, which is dominating the hottest apparel market in the world: Europe.
Cramer dubs Costco “non-Amazon-able” due to its card membership fees paired with a discounted offering of bulk items. While the market may be bearish on its stock, Cramer likes Costco’s story, and is looking forward to its Thursday earnings report.
Finally, few retailers offer better bargains than Big Lots, and Cramer is watching its Friday earnings report closely. He just wishes he liked its business more.