Cramer’s week ahead: Stocks can’t stage ‘meaningful’ comeback until major obstacles are resolved

Jim Cramer said on Friday that the market rally has no chance of lasting until the causes of the turmoil are solved.

If we want the market to stage a meaningful comeback, we need China to reopen, Russia to withdraw from Ukraine, and the Federal Reserve to raise its rate.

His comments come on the heels of a volatile week of trading that was largely ignored by missed earnings quarters from retail giants.

The S&P 500 closed around 19% below its record, while the index reached 30% off its highs. It was the first eight-week losing streak since 1923.

Cramer looked ahead to next week's slate of earnings and gave his thoughts on each company, as well as giving his take on the current market. FactSet gives estimates for earnings and revenue.

Monday: Move.

• Q1 2023 earnings release after the close; conference call at 5 p.m. ET
• Projected EPS: 96 cents
• Projected revenue: $1.23 billion

Cramer said that if the company innovates or acquires another company that helps it do so, the stock will stay down.

Toll Brothers, AutoZone, and Best Buy are on Tuesday.

Best Buy.

• Q1 2023 earnings release before the bell; conference call at 8 a.m. ET
• Projected EPS: $1.59 
• Projected revenue: $10.45 billion

Cramer said that buying anything lately has felt riskier than buying Best Buy at its current price.

The autoZone.

• Q3 2022 earnings release before the bell; conference call at 10 a.m. ET
• Projected EPS: $26.20
• Projected revenue: $3.71 billion

The company's stock is a winner according to Cramer.

Toll Brothers are a family business.

• Q2 2022 earnings release after the close; conference call at 8:30 a.m. ET
• Projected EPS: $1.50
• Projected revenue: $2.08 billion

Cramer said that most skeptics think the earnings will be cut in half in the future.

Wednesday: Nvidia.

• Q1 2023 earnings release after the close; conference call at 5 p.m. ET
  
  Projected EPS: $1.30
• Projected revenue: $8.12 billion

Cramer doesn't know if anyone will care about the print, as the action ahead of the quarter has been horrendous.

Thursday: Macy's.

Macy's

• Q1 2022 earnings release before the bell; conference call at 8 a.m. ET
• Projected EPS: 82 cents
• Projected revenue: $5.33 billion

Cramer noted that Macy's has a similar product line-up to Target.

It's Costco

• Q3 2022 earnings release at 4:15 p.m. ET; conference call at 5 p.m. ET
• Projected EPS: $3.04
• Projected revenue; $51.32 billion

Cramer said that the company is doing well, but its stock is down so much that it might be the only thing that can get it to rally.

Friday is Canopy Growth.

• Q4 2022 earnings release before the bell; conference call at 10 a.m. ET
• Projected EPS: $10.70
• Projected revenue: $130 million

opy needs national legislation promoting use of marijuana, not just flat out legalization, but subsidies for its stock to rally to its previous highs, Cramer said.

Cramer's Charitable Trust has shares of both Costco and Nvidia.