Jim Cramer’s week ahead: new consumer data and earnings from Walgreens

CNBC’s Jim Cramer on Friday guided investors through next week’s most important happenings on Wall Street, saying to watch out for earnings from Walgreens as well as new data about consumer spending.

“We’re no longer fighting the Fed, people — they don’t seem inclined to raise rates when they’re supposed to be cutting them, that doesn’t make sense,” he said. “And that means, even if we hear a lot of noise about an overheated inflation number, I’d, yes, consider it a buying opportunity.”

On Monday, Cramer will be monitoring as Trump Media — a new public company formed Friday when shareholders from shell company Digital World Acquisition Corp agreed to merge with the social media outfit owned by former President Donald Trump — may start trading under the ticker DJT. The company could prove to be a significant windfall for Trump, Cramer said, who is facing hefty legal bills.

Tuesday brings earnings from GameStop, and Cramer said he’s expecting poor results. Elsewhere, he said spice maker McCormick could present better-than-expected figures that day, adding that the last two food companies that reported — Hormel and General Mills — had “nice upside surprises.”

Cintas and Carnival report on Wednesday, and Cramer said he’s optimistic about the former, but called the latter “a wild card.” He said he will also be paying attention to Kimberly-Clark‘s analyst meeting that day.

Cramer said he’s excited about Thursday’s earnings report from Walgreens Boots Alliance, saying the company could be headed in a better direction now that Tim Wentworth, a seasoned health-care executive, is at the helm. Cramer said he would like to hear Wentworth explain how he plans to return Walgreens to growth.

The personal consumption expenditures report will come out on Friday, which Cramer noted is an important inflation metric for the Federal Reserve.