'The one thing that might stand in the way of a continued rally ... is the non-farm payroll report on Friday,' Jim Cramer says.
The market got off to a"great start" Friday after the first two months of the year were terrific, but there is some worry that it could lose some momentum, CNBC's Jim Cramer said Friday.
"The one thing that might stand in the way of a continued rally—other than the possibility of a blown trade deal with China—is the non-farm payroll report on Friday," he said.Salesforce.com reports after the bell Monday.He pointed out that three cloud kings, Workday, Splunk, and VMware, all beat on their earnings report Thursday. Each stock surged higher in after-hour trading, but only VMware held on to some of its gains with Workday and Splunk both closing Friday in the red.
Cramer circled Tuesday on his calendar because it kicks off the"retail fest." Target and Kohl's will give their latest earnings in the morning. The host is expecting Target CEO Brian Cornell to deliver good news and Kohl's CEO Michelle Gass to tell a more complicated story. But his charity trust is ready to load up on the latter, if it gets hit, for a long-term play.
Shares of Thor Industries have been getting run over the past two years. Cramer recalled the company has had weak RV sales and struggled with raw costs. But he expects Thor Industries to eventually mitigate those costs and boost sales. He wants to learn more about Freda's"reverse mentoring" philosophy that lets younger associates be the boss and explain what they think works.
"I don't know if you caught Warren Buffett talking about the dominance of the Kirkland brand, Costco's private label business," he said."Good call."Cramer said this week's employment report will be more important than usual. The market has been flying higher ever since the Federal Reserve reversed course in January and cut back on the number of planned interest rate hikes, he said.
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