×

Cramer’s game plan: Critical macro data that could be dangerous for next week

With the market moving heavily in recent weeks, Jim Cramer suspects that it was in consolidation mode on Friday. And the bad news is that stocks won't be able to rally until oil stops declining.

Next week, rather than have his eye on individual companies that report, he will be monitoring macro data.

"It is a critical week nonetheless because these big picture forces are playing havoc with our markets and making it a lot more treacherous to own individual stocks," the "Mad Money" host said.

Sunday: Chinese May industrial production & retail sales
With the estimates very high, Cramer thinks China will disappoint again. Chinese retail is important for companies like Apple, Starbucks, Yum Brands and Nike. Thus, Cramer expects pressure on these stocks if Chinese retail sales are poor.

"These numbers matter tremendously because if we don't see industrial production up nicely, we are going to have another freak out about a slowdown," Cramer said.






Monday: Apple WWDC kickoff
Don't be too quick to pull the trigger, Cramer said. This conference tends to be an occasion where news comes out that can move the stock. Cramer suspects it could be a rallying point for analysts to say good things about the company. He's got his eye on any news pertaining to service revenue being added.

Tuesday: U.S. retail sales, eurozone industrial production
U.S. retail sales: Based on data from broad line retailers, the only strong performance in May was from the dollar stores. Cramer expects another number that confirms this, which means interest rates will go down further and financials could be under pressure.

European industrial production: Cramer refused to believe that anyone would be foolish enough to own a German 10-year bond.

"I'm telling you that this is one where if we get some strength, you are going to feel like a knucklehead owning German 10-year bunds, which yield almost nothing and may be the most overvalued pieces of paper in the world," he said.

Wednesday: Federal Reserve meeting, Jabil Circuit
Now that the economy's nonfarm payroll report had only 38,000 jobs last month, the fear of the Fed meeting has passed. Cramer expects to hear from members of the board who want an increase in rates, but referred to them as "jokers."

Thursday: Kroger, Rite-Aid, Oracle, Smith & Wesson
Rite Aid: Cramer will be listening to hear when Walgreens' acquisition of Rite Aid will close. Reports indicated on Friday that the FTC will bless the deal, and Walgreen's roared higher.

Kroger: Cramer suspects that Kroger has been distracted by its $800 million purchase of Roundy's. If it gets the deal right, he thinks the stock could head higher though he prefers Whole Foods.

Friday: SeaWorld, Baker Hughes rig count
Baker Hughes rig count: The rig count on Friday showed there was an increase in rigs, though it was only three. However, that is two weeks in a row where more rigs are being used, which could put downward pressure on the price of oil. He wants investors to be prepared if the rig count climbs again.

Questions for Cramer?
Call Cramer: 1-800-743-CNBC

Want to take a deep dive into Cramer's world? Hit him up!
Mad Money Twitter - Jim Cramer Twitter - Facebook - Instagram - Vine

Questions, comments, suggestions for the "Mad Money" website? madcap@cnbc.com