Friday Night's Show Highlights:
Next week has opportunities, but Yellen's speech on Friday could cancel it all out...
Friday, May 20, 2016
Providing a VERBATIM recap of Jim Cramer's Friday Night "Game Plan for Next Week," word for word, with all stock picks & recommendations to help you prepare for the week ahead, including that night's Lightning Round picks...
Jim: Thank heavens the S&P 500 broke its losing streak of four straight down weeks today, with the Dow gaining 66 points, the S&P climbing 0.6%, and the Nasdaq vaulting 1.21%.
Good! The bulls deserved it, as we were finally devoid of any negative news, which allowed us to build on a small rally in tech, led by the beaten-down semiconductor cohort and, at last, a bounce in retail.
However, looking forward to our Game Plan for next week... the dollar, the Fed, oil... they're all going to come into play, calling some real discordant tunes.
It all starts on Monday when we get a slew of data from the Eurozone. And that's going to give us a sense of how weak Europe is. Why do we care. Because the dollar has been up for four straight weeks. And a strong dollar is bad news for our U.S.-based international companies. My biggest worry is that we get sub-par data from across the Atlantic. We're going to hear about the European Central Bank action to bring down the euro versus the dollar to make the euro even more competitive. To make matters worse, we've got a host of Federal Reserve officials speaking next week, including chairwoman Yellen. And if we hear enough chatter about not one, not two, but three rate hikes this year, combined with weak European data, then the next week... it could get ugly. Tuesday ushers in a motley crew...