NEW YORK ( TheStreet) -- According to TheStreet's Jim Cramer, all anyone on Wall Street is going to be talking about next week is the unemployment number due out Friday, and what it will mean to the Fed.
It's a real outlier, he says, because it's the only strong piece of economic data we're seeing. All the other data points -- PMI, Commerce, truck loading, car loading -- are bad. "Autos: Not good. Airlines in May, not good. But if the jobs number next week is strong, then people are going to talk about a Fed rate hike," Cramer said. "They should really be talking about how to cut rates, [because] it really is that weak in May in this country."
Separately, TheStreet will be watching key earnings reports due out next week. On Tuesday,Cracker Barrel Old Country Store (CBRL) - Get Report is set to report its latest quarterly results before the bell. Wall Street analysts expect the restaurant chain to report earnings per share of $1.38. Also reporting Tuesday are discount retailer Dollar General (DG) - Get Report and Ambarella (AMBA) - Get Report. Analysts are looking for an EPS of $0.81 on Dollar General while Ambarella, a supplier of HD chipsets to customers like GoPro (GPRO) - Get Report, is expected to post earnings of $0.58 a share. Ambarella currently has an average rating of buy and an average target price of $76.79.
Then on Thursday,J.M. Smucker (SJM) - Get Report is set to report, as is VeriFone Systems (PAY) , a provider of secure electronic payment solutions. Analysts are looking for an EPS of $0.42 on $488.7 million in revenue for VeriFone. We'll also get earnings results from Zoe's Kitchen (ZOES) after the close Thursday. Other key economic data due out next week include construction spending on Monday, motor vehicle sales and factory orders on Tuesday, and the non-manufacturing ISM survey on Wednesday. Then on Thursday, we'll see the initial jobless claims report, ahead of that all-important employment report Friday.
At the time of publication, Jim Cramer's charitable trust Action Alerts PLUS held no positions in stocks mentioned.