We recently compiled a list of the Jim Cramer’s Game Plan for This Week: 8 Stocks in Focus. In this article, we are going to take a look at where NIKE, Inc. (NYSE:NKE) stands against the other stocks featured in Jim Cramer’s game plan.
Jim Cramer, host of Mad Money, provided insights on Friday about this week’s Federal Reserve meeting, key earnings reports, and the retail sales numbers due to be released. According to Cramer, the market is in a holding pattern at the moment, with investors growing increasingly uneasy. “When the market bides its time, guess what, people tend to get a little nervous,” he remarked.
“I think the Wall Street’s gotten a little too negative frankly, as we get oversold and we’re getting there. But I’ve been warning about stocks going to excessive levels for two weeks now, so I can’t be all that positive until we see a couple days where bond yields actually go lower with the stock market.”
Cramer pointed out that retail sales figures will be released on Tuesday, and although they are coming out just before the Fed’s meeting, they will likely stir significant debate. This is especially true given the unusual timing of Black Friday this year, with a compressed shopping period between Thanksgiving and Christmas. He speculated that the bond market had a rough week, and if retail sales come in cooler than expected, it could provide a much-needed counterbalance, perhaps offering a potential buying opportunity after the Fed meeting.
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Looking ahead to Wednesday, Cramer noted that the Federal Open Market Committee is widely expected to cut interest rates by 25 basis points. While he cautioned that nothing is certain, he emphasized that numerous Fed officials have indicated that a rate reduction is likely. He added:
“Every little signal from the Federal Reserve brings out predictions causing many people to sell good stocks when they are freaked out. You also have people who just can’t let it go, dogs with bones. As soon as we get the Fed rate cut, well, guess what? They’re immediately focused on the next cut. I think this is absurd.”
Cramer clarified that while he does see the Fed as important, he believes investors should not get bogged down by every minor shift in central bank policy. He reminded viewers that the Fed operates based on data, not ideology. He acknowledged that there could be dissent within the Federal Open Market Committee, but he cautioned against making investment decisions solely based on what the Fed might do next.
