CNBC’s Jim Cramer takes a look at the coming week of earnings reports, the Fed and stock market news. The “Mad Money” host sits down with Boot Barn CEO to get a better picture of its expansion plans. Later in the show he explains why President Donald Trump should let the Dec. 15 tariff hike go into effect.
Cramer’s week ahead
Friday’s market action “makes sense,” CNBC’s said.
The major stock indexes all rallied about 1% in the session after Wall Street learned that 266,000 jobs were added to the economy in November, trouncing the projected 187,000 figure.
Cramer said the nonfarm payroll results “drove a stake through the heart of the idea that there’s a recession looming just around the corner.”
“When we get an amazing employment report, we can take a break from the on-again, off-again China news,” the “Mad Money” host said, “and just focus on earnings. And when we focus on earnings, I think we’ll like what we get to see.”
Boot Barn expansion
Jim Conroy, CEO of Boot Barn
Adam Jeffery | CNBC
is on the road to bring Western fashion to the East Coast.
The California-based workwear and lifestyle retailer has nearly 250 stores peppered across 33 states in all regions except the Northeast, which is where CEO Jim Conroy said that he has his eye on for expansion.
“We’ve mapped out the whole country, state by state, and we’ve gotten to a number of exactly 250 — doubling to 500,” Conroy said in a “Mad Money” interview. “So we think we can double the store count. Soon to be in Pennsylvania, so we’re getting closer and closer to New York, and hopefully we’ll have investors going.”
Let the Dec. 15 tariffs go into effect
President Donald Trump waves during joint statements with China’s President Xi Jinping at the Great Hall of the People in Beijing, China, November 9, 2017.
Thomas Peter | Reuters
President Donald Trump should go forward with the next round of tariffs set for Dec. 15, Cramer said.
That’s because the November jobs report issued Friday shows the U.S. economy is stronger than some may have believed, the host said.
“If we’re experiencing this kind of growth without inflation, that means President Trump has a ton of flexibility when it comes to the trade negotiations with China,” Cramer said.
Cramer’s lightning round
In Cramer’s lightning round, the “Mad Money” host gives viewers his thoughts about their favorite stock picks in rapid speed.
: “You know I think that management team is terrific. They are great guys. It’s a buy.”
: “Bank of America is going higher. It’s a very inexpensive stock. It’s one of those stocks you can buy and the fact is I think the yield curve is going their way.”
: “Boring and good. Boring and good. You can put it away because it’s been pretty consistent.”