Apple iPhone 16, CPI and Oracle earnings – MASHAHER

CNBC’s Jim Cramer on Friday discussed what to look out for next week on Wall Street, highlighting the launch of the new iPhone 16 from Apple, earnings from enterprise software company Oracle and a consumer price index reading. He also opined on the nature of September, saying it is usually a rough time for the market.

“This is just a rather unforgiving moment until stocks go low enough to attract real buyers, not traders, and we get close to the end of September,” he said. “Until then, you can try your hand at being nimble on any rip up and do some selling. Or you raise a little cash, stand pat and then wait for lower prices to do some buying.”

Cramer said he is optimistic about the Monday release of the new iPhone 16. Oracle will report after the market close that day, and Cramer said the company has done well to incorporate artificial intelligence into its products. He said positive earnings from Oracle and the new Apple product together could “staunch the tech blood flow,” but noted that the Department of Justice’s antitrust trial against Alphabet also begins that day.

GameStop will report on Tuesday, and Cramer said there is usually hype in the runup to its earnings but the company needs to show a long-lasting business plan or the quarter will “land with a thud.” He also noted that Vice President Kamala Harris will debate former President Donald Trump on Tuesday night. Cramer said he is not sure how much of a role the economy will play in the debate, but doubts that anything specifically market moving will come out of the event.

On Wednesday, the Labor Department will release August’s consumer price index, an important inflation metric. According to Cramer, as long as inflation stays consistent or decreases, the Federal Reserve has “plenty of leeway” to cut rates and prevent the recession that many investors fear.

Thursday brings earnings from Signet Jewelers, Kroger and Adobe. Cramer said the diamond retailer was posting solid quarters until the last one, suggesting that the stock is relatively inexpensive but “not for the squeamish.” Kroger will likely continue to discuss its ongoing effort to merge with Albertsons, which has been hampered by the Federal Trade Commission, he said. Even though investors have soured on tech as of late, Cramer pointed out that analysts seem to be bullish about Adobe.

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Disclaimer The CNBC Investing Club Charitable Trust holds shares of Apple and Alphabet.