Jim Cramer is eager to begin focusing back on the stock market, but the cryptocurrency craze is still capturing Wall Street’s attention.
He expects that bitcoin and other speculative coins will continue to be top of mind, and the big declines being witnessed in crypto markets will drag on stocks. This could create buying opportunities for investors in stocks as another packed week of earnings rolls through.
“All in all, this is a historically slow week, but there are enough new companies reporting that it’s now jam-packed,” Cramer, discussing his game plan for next week, said on “Mad Money” Friday.
The week ahead will close out trading for the month. With the exception of the Dow Jones Industrial Average, the major U.S. indexes are down month to date. The tech-heavy Nasdaq Composite is down 3.5% in May, while the S&P 500 has lost 0.6% over that time period. The Dow is up about 1% in May.
Cramer gave viewers a preview of the upcoming corporate earnings reports he has circled on his calendar.
“Maybe, just maybe, that can overshadow bitcoin, as long as Elon Musk can keep his mouth shut about crypto,” he said.
Projections for revenue and earnings per share are based on FactSet estimates:
