Jim Cramer’s week ahead: Nonfarm payroll data and Disney’s proxy fight comes to a head

CNBC’s Jim Cramer on Thursday guided traders by way of subsequent week’s Wall Street motion, saying to concentrate to new nonfarm payroll data and Walt Disney’s annual shareholder assembly, the place its lengthy and arduous proxy fight will come to a head.

“In my view, the market’s now well-prepared for a hot employment number, so if the labor report is more lukewarm, we’ll go into earnings season with a pleasant backdrop,” he mentioned. “Keep an eye on the employment report, because everything else that’s coming next week pales in comparison — even the no-holds-barred Disney proxy fight.”

On Monday, Cramer expects first rate earnings from PVH, an attire maker identified for manufacturers together with Calvin Klein and Tommy Hilfiger. He mentioned the corporate will probably be “an amazing test case of the new quarter” as a result of it has run a lot, and he is undecided if its positive aspects will proceed.

Tuesday brings a report from Paychex, a payroll processor. Cramer mentioned Paychex’s inventory tends to run up and then dump after earnings even when outcomes are optimistic, so there could also be a possibility to purchase after the pullback. The firm’s report can even present perception into the welfare of small and medium-sized companies which are its fundamental purchasers, he mentioned.

Walt Disney‘s annual shareholder assembly will happen on Wednesday, bringing an finish to the corporate’s monthslong bitter proxy fight with activist investor Nelson Peltz. Cramer famous that Disney has put a lot of sources into this battle, saying it could end up to be “among the most expensive proxy fights in history.” Cramer can even be paying consideration to a Wednesday analyst assembly from Enterprise Products Partners and earnings from retailer Levi Strauss.

Conagra, which owns a number of fashionable meals manufacturers together with Slim Jims, Orville Redenbacher’s popcorn and Chef Boyardee, is ready to report Thursday earlier than the market opens. Cramer mentioned the corporate has struggled lately with gross sales, however he added that it might have optimistic earnings even when revenues aren’t spectacular.

On Friday, the U.S. Department of Labor will launch the nonfarm payroll report, and Cramer mentioned he is anticipating sturdy figures. To Cramer, the financial system “still has a healthy head of steam,” and there have not been the mass layoffs many had anticipated.

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Disclaimer The CNBC Investing Club Charitable Trust holds shares of Walt Disney.