Wall Street gets an update on the coronavirus epidemic in China each night, and while the numbers are not always dependable, stocks are reacting to the information, CNBC’s Jim Cramer said Friday.
The ongoing global health concern led to a mixed day of trading in the market, he said. The Dow Jones Industrial Average fell about 25 points, while the S&P 500 and Nasdaq Composite both rose about 0.20%. The major averages, however, all posted weekly gains.
“Until the outbreak burns itself out, the coronavirus statistics, and not earnings, will continue to control the day-to-day action,” the “Mad Money” host said.
Cramer went on to reveal what he has circled on his calendar for the coming shortened week of earnings reports after the Presidents Day holiday Monday:
Tuesday: Walmart, Medtronic earnings
Walmart reports fourth-quarter fiscal 2020 earnings in the morning. The retailer is expected to record $142.5 billion in revenue and $1.44 of earnings per share, according to FactSet estimates.