CNBC's Jim Cramer gave a preview of what's on his earnings calendar next week. The "Mad Money" host offered more stock picks for this volatile market environment. Later in the show, he sat down with Hannon Armstrong CEO Jeff Eckel to talk environmentally conscious investing.
CNBC's said Friday that the stock market remains in a feeble position, the bond market is flashing a warning sign and the investment community should be prepared for more coronavirus uncertainty.
The , now in correction territory, fell more than 1,000 in intraday trading before staging a late rally to close Friday's session down 357 points, or 1.39%. The 30-stock index dropped a total of 3,938.67 points in the past five trading days, capping off the worst week on Wall Street since the 2008 financial crisis.
Money managers unloaded their stock portfolios and put their funds in safe-haven instruments such as bonds, causing interest rates to fall near record lows. The benchmark U.S. 10-year Treasury yield — bond yields move inversely to prices — was last at 1.16%.
"In other words, the bond market's screaming that the coronavirus is far worse than most people realize, global commerce will take a real hit and it might even be something similar to 2008 when all hell broke loose," the "Mad Money" host said. "I can't tell you whether the bond market's right. I'm not an epidemiologist, but I know the markets."
Cramer gave a preview of the corporate earnings and economic news that's circled on his calendar next week.
"Get ready for another rough day on Monday because I expect more COVID-19 shoes to drop this weekend," Cramer said. "You've got to be ready for a snapback [rally], though, if we keep getting so negative."
Wall Street is in deep correction territory, stocks have been discounted and the embargo on putting money in securities is now over after a tough week of trading shrouded in coronavirus uncertainty, Cramer said.
"We've had back-to-back days, though, where 10 times as many stocks were falling versus going up, and that is highly unusual," the host explained. "It suggests we're getting closer to a bottom ... though we probably may not be there yet."
Wall Street's attitude toward climate change has seemed to shift in recent months, but it is far from showing it's truly serious about sustainable investing, CEO Jeffrey Eckel told Cramer.
Eckel, whose firm focuses exclusively on investing in climate change solutions, said there are three things the Street can do to solidify its green credentials and usher in a "fundamental reshaping of finance."
The first, Eckel said on "Mad Money," is that Wall Street banks and asset managers have to ask, "Is this investment accelerating climate change or slowing it?"
The second is about transparency, Eckel said. He said firms need to disclose every one of their investments. "Not just the investment but the carbon impact," he said.
Finally, he said every investment should be calculated using a metric called "CarbonCount," a tool his company developed.
"If carbon counts and capital is scarce, we should be making the most impactful investments, and the way to do that is to measure our carbon count for every investment," Eckel argued.
In Cramer's lightning round, the "Mad Money" host delivered his thoughts on callers' favorite stock picks of the day in rapid speed.
: "Bad quarter, [I] like the company though and as it's come down I think it's a buy. I was surprised how weak the quarter was, though."
: "Cybersecurity. I like. 's a little better, but I think you've got a good one there."