The spirits company will release its 2016 first-quarter earnings before the bell. If all of this market volatility has you reaching for a cocktail, you may want to check out the maker of Jack Daniel's, Chambord, Korbel, Southern Comfort, and other adult beverages.
The Louisville, Ky., company, is expected to report 74 cents a share on revenue of $714 million, up from the 70 cents a share reported for the same quarter last year. Shares closed Tuesday at $98.
Cramer said the liquor trade is interesting. "Brown-Forman would be a great confirmation that this business is still strong," he said. "Isn't it funny how vice holds up no matter what the stock market does?"
Other companies reporting earnings Wednesday are retailers Abercrombie & Fitch (ANF) - Get Abercrombie & Fitch Co. Class A Report, Chico's (CHS) - Get Chico's FAS, Inc. Report and home product retailer Williams-Sonoma (WSM) - Get Williams-Sonoma, Inc. Report. Abercrombie & Fitch is expected to report a loss of 8 cents a share, down from 19 cents a share the same quarter last year.
On the economic calendar, at 8:30 a.m., Durable Goods Orders will be released. Orders are expected to decline 0.4% in July. Lower transportation orders, specifically aircraft orders, are the expected reason for the decrease. At 10:00 a.m. ET New York Federal Reserve Bank President William Dudley will hold a press conference on the regional economy.