The major averages bounced back this week: The S & P 500 gained 5%, while the Nasdaq rose 6% and the Dow increased 4%. Like many tech stocks, Club name Meta Platforms (META) had a great week, and not just because Jim Cramer had fun with Mark Zuckerberg in the metaverse. More on that in a bit. The big question after this week is whether we’ve seen the bottom in stocks or whether this first weekly advance in the past four proves to be nothing more than a bear market rally. That said, the incredibly sharp and fast collapse in commodity prices does serve to support the view that we could see inflation cool in the second half of the year. There is the view that even though valuations have come down significantly, they may need to go lower still as earnings are revised. But the rapid decline in commodity prices (think input costs) could result in less drastic downward revisions. We will look for more information on this front in a few weeks as second-quarter earnings kick off. If you missed Jim’s insightful interview with the Meta founder and CEO Zuckerberg, you can watch and read Zuckerberg explain his metaverse strategy , along with 4 investable things Jim learned from the chats . Under the hood this week, energy was the only sector to close out the week with a loss, while consumer discretionary led to the upside followed by the healthcare and real estate sectors. Meanwhile, the U.S. dollar index remains at around the 104 level. Gold continues to hover in the mid-$1,800s region. WTI crude prices pulled back to $107 per barrel. The yield on the 10-year Treasury pulled back to the 3.13% level. Looking back No portfolio companies reported earnings this week. On Tuesday, existing home sales in May were reported to have dropped 3.4% (down 8.6% annually) to a seasonally adjusted annualized rate (SAAR) of 5.41 million. On Thursday, initial claims for the week ended June 18 came in at 229,000, missing expectations of 227,000. Finally, on Friday, new home sales in May were reported to have increased 10.7% monthly (-5.9% annually) to a SAAR of 696,000. What’s ahead Next week, we will hear from Constellation Brands (STZ) on Thursday before the opening bell. Here are some other earnings reports and economic numbers to watch in the week ahead: Monday, June 27 After the bell: Nike (NKE), Trip.com (TCOM), Concentrix (CNCX), Jefferies (JEF) 8:30 a.m. EST: Durable Goods Orders 10:00 a.m. EST: Pending Home Sales Tuesday, June 28 Before the bell: TD Synnex (SNX), Enerpac Tool Group (EPAC), Cognyte Software (CGNT) After the bell: Progress Software (PRGS), AeroVironment (AVAV) Wednesday, June 29 Before the bell: General Mills 9GIS), McCormick (MKC), Patterson Companies (PDCO), Bed Bath & Beyond (BBBY), Paychex (PAYX), MSC Industrial (MSM), Schnitzer Steel (SCHN), UniFirst (UNF) After the bell: Miller Knoll (MLKN), SMART Global (SGH), Duck Creek Technologies (DCT) 8:30 a.m. EST: Gross Domestic Price Index (Final) Thursday, June 30 Before the bell: Walgreens Boots Alliance (WBA), Acuity Brands (AYI), Simply Good Foods (SMPL), Lindsay Corp (LNN) After the bell: Micron (MU), Accolade (ACCD) 8:30 a.m. EST: Initial Claims 8:30 a.m. EST: Personal Income & Spending Friday, July 1 10:00 a.m. EST: ISM Manufacturing (Jim Cramer’s Charitable Trust is long META and STZ. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
The major averages bounced back this week: The S&P 500 gained 5%, while the Nasdaq rose 6% and the Dow increased 4%. Like many tech stocks, Club name Meta Platforms (META) had a great week, and not just because Jim Cramer had fun with Mark Zuckerberg in the metaverse. More on that in a bit.
