GitLab, CrowdStrike Labor and Income Report: Cramer’s Week Ahead

June 1, 2024Last Updated: June 1, 2024

0 284

GitLab, CrowdStrike Labor and Income Report: Cramer's Week Ahead

Jim Cramer says it might be time for other stocks to shine

CNBC’s Jim Cramer on Friday told investors what to watch for next week on Wall Street, highlighting the nonfarm payrolls report and earnings from GitlLab And The crowd went on strike.

“For those who want the Fed to cut so hard that they have to stay on the sidelines until they do, you better hope that the jobs numbers weaken next Friday,” he said.

GitLab will report on Monday. Cramer said he is waiting to see how the company will perform as some in the enterprise software sector see sales problems. He noted that GitLab’s last quarter was disappointing. To him, it seemed like a unique situation at the time, but maybe the report was a harbinger of trouble to come in the industry, he said.

Tuesday brought quarterly results from CrowdStrike, and Cramer said the cybersecurity company performed better than many of its peers.

Hewlett Packard Enterprises, Ferguson And PVH also reported Tuesday. Cramer will wait to see how HPE can compete with rivals like Dell. According to Cramer, Ferguson is a great way to invest in infrastructure. He’ll also check out PVH, known for brands like Calvin Klein and Tommy Hilfiger, but said he prefers Ralph Lauren in apparel.

Dollar tree, Campbell SoupManufacturer Jack Daniels Brown-Forman And Lululemon will report on Wednesday. Cramer said he wondered whether Brown-Forman could explain what was hurting alcohol sales, as well as whether a crowded and difficult athleisure market had been “fed into” Lululemon’s inventory or not.

On Thursday, JM Smucker And documentsign is due to reporting. Cramer said JM Smucker needs to find something to help the company grow faster, and he wonders how DocuSign will find a way to turn its business around.

Friday is perhaps the most important event of the week, according to Cramer, reporting the Labor Department’s nonfarm payrolls for May. He emphasized that the Federal Reserve will not be inclined to cut interest rates until the unemployment rate reaches 4%. IN AprilUnemployment rate inched up to 3.9% from 3.8% last month.