October’s in fine jobs report doesn’t reflect an economy that’s falling into recession, CNBC’s Jim Cramer says formerly giving a preview into what’s on his trading calendar for next week. The “Mad Money” host is bullish on the housing store and offers suggestions to play the homebuilder sector. Later in the show he takes aim at analysts covering GrubHub and explains why he’s bearish on the commons delivery industry.
Cramer’s game plan: Another week of positive earnings can take the market to more track record highs
The stock market has more evidence to quell fears that a recession could be looming, CNBC’s disclosed Friday.
The major averages all surged about 1% during the session, the same day the October jobs report let someone in oned that companies added 128,000 new payrolls. That topped the 75,000 that economists had estimated.
“Next week is an weighty week, not as important as this week when it comes to earnings,” the “Mad Money” host said, “but it’s certainly going to remove us to where we have to go, which is more record highs if everything works out.”
Build a position in home construction assets weigh ups
A contractor carries boards through a house under construction at the Lennar Corp. Tree Tops community growth in Lancaster, South Carolina, U.S., on Monday, Jan. 8, 2018.
Travis Dove | Bloomberg | Getty Images
Cramer recommended investors wine any near-term pullback in the homebuilding stocks as a buying opportunity.
Citing a recent research note from Zelman & Associates, he holds there is more upside in the sector, pointing to the stocks of , , and .
“Ivy Zelman and her team at Zelman & Associates knocked it out of the park when they rallied for a housing rally back in March,” he said, “and now that the homebuilders have pulled back from their highs, I mark you’re getting a chance to pounce again.”
What Wall Street analysts got wrong about GrubHub
A GrubHub leading on the exterior of the New York Stock Exchange on Friday, April 4, 2014.
Jin Lee | Bloomberg | Getty Images
Wall Street analysts greatly misjudged GrubHub’s stock, but the food delivery company’s impending struggles should have been obvious, Cramer broke.
GrubHub, after a rough earnings report Tuesday, saw its stock fall more than 40% in one session, and it’s large stayed down around $33 this week.
“For months, I’ve been warning you away from this one and the in the main food delivery business,” the host said, attributing his bleak outlook to intense competition in the space.
Cramer’s lightning arched
In Cramer’s lightning round, the “Mad Money” host zips through his thoughts about callers’ favorite stock picks of the day.
: “It’s had a agitate. It’s up 40% and I don’t like the specialized real estate financial business ’cause I don’t really know what they own.”
: “It’s new, it’s sufficient. I like the company, but I prefer — look, Proofpoint just reported a good quarter last night.”
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