Investors largely expected the FOMC to cut rates by a quarter point.The Fedread more
Jim Cramer saw oil play out its same pattern of prices rising on rumors of an oil output deal, and then falling when it does not happen. Rather than pull his hair out worrying about it, he kept China and earnings on his radar for next week.
"In October we have had a bunch of crashes. Be prepared to be scared again by the same naysayers and my advice, get over it, look for cheap stocks of great companies, and use the fear to buy, not to sell," the "Mad Money" host said.
With this in mind, Cramer outlined the stocks and events on his radar next week:
Monday: The presidential debate, Carnival, Vail Resorts, Thor Industries
Cramer does not expect anything positive for business to come out of the debate. He anticipated that both banks and the drug companies will be hot topics, thanks to Wells Fargo and Mylan.
"I say, thanks for nothing," Cramer said.
Cramer suspects that Carnival's bookings will be hurt by Zika because of its Caribbean business. Vail will benefit from travelers avoiding warmer climates, as Zika-carrying mosquitoes cannot live above 6,500 feet. Therefore Vail, at 8,200 feet, is the perfect place for rich people to go.
Tuesday: Nike, Workday and Jabil Circuit analyst meetings
Nike: Analysts have their knives out for Nike because suddenly Adidas has made a comeback and Under Armour is working its way back, too. Cramer believes in CEO Mark Parker, so he'd rather bet with him than against him.
Jabil: While it reported a disappointing quarter earlier this week, analysts know that Jabil makes phones for Apple, so they will try to find ways to get a read on how the iPhone 7 is doing. Jabil will not give any information directly, but Cramer will hunt for clues.
Wednesday: Paychex, Blackberry, Pier 1 Imports, OPEC meeting
OPEC meeting: This is the meeting that was supposed to bring production cutbacks, yet Saudi Arabia announced it doesn't expect a deal on Friday.
"I think oil will wilt going into the confab and it might have a tough week given that none of these countries want to cut back on production," Cramer said.
Thursday: PepsiCo, Costco, Accenture, Janet Yellen speaks, ConAgra Foods, Celgene analyst meeting
PepsiCo: Cramer thinks it could turn in another great quarter
Costco: This company has some food deflation issues, and Cramer suspects it could hurt numbers. He said to buy either stock on weakness after it reports.
Yellen: Wall Street will be looking to dissect every word for clues on Fed policy. But there isn't much that could have occurred since the last Fed meeting, so Cramer doesn't think anything of consequence will occur.
Friday: McCormick, Chinese manufacturing & non-manufacturing PMI
McCormick: With packaged goods plays under pressure due to pricing pressure, Cramer advised that if ConAgra delivers a subpar number or Costco talks about food deflation, this could be a good trading opportunity.
China: With copper starting to rise, Baltic freight index ramping up and hot auto sales in August, Cramer has been getting bullish on China.
"If we get better reports out of China and the dollar stays calm against other currencies, we could come into October with a head of steam that could create a very positive backdrop for the big international stocks," Cramer said.