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CNBC's Jim Cramer on Thursday said a light earnings calendar next week will concentrate investors' focus on a handful of key reports and economic data releases. Stocks rebounded Thursday as investors shook off the previous session's sell-off following the Federal Reserve's indication that another rate hike remains possible. The Dow Jones Industrial Average rose about 72 points, or .14%, while the Nasdaq Composite and S&P 500 gained nearly 2% and about 1%, respectively. Semiconductor stocks led the advance, extending the market's AI-driven rally and helping lift the major averages. Cramer then turned to the week ahead.
Monday
Cramer said one of the biggest stories to watch is oil after crude exports through the Strait of Hormuz have picked up and the U.S. Navy ended its blockade. If peace negotiations with Iran continue to progress, he expects "shockingly lower oil prices because of this new excess." A sustained decline in oil prices, he noted, would ease inflationary pressures and eventually support lower interest rates.
Tuesday
Carnival reports before the bell, which Cramer said will offer investors a look at how the Iran war affected travel — and what the recent pullback in fuel could mean for demand. While Cramer prefers Viking Holdings because of its upscale customer base and pricing power, he said Carnival is also a well-run operator. After the close, FedEx , which is a holding in Cramer's Charitable Trust, the portfolio used by the CNBC Investing Club, reports. Cramer recently visited the company's Memphis headquarters and remains bullish on CEO Raj Subramaniam's network optimization and cost-cutting strategy. The company has a history of issuing conservative forecasts, he noted, meaning any post-earnings weakness could present a buying opportunity. Homebuilder KB Home also reports. Cramer said he hopes management addresses the impact of elevated interest rates on housing demand. "The housing industry just feels like it is dead in the water right now," he said.
Wednesday
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