Dow Futures are down Tuesday as investors raise concerns over the lockdowns in Germany and the AstraZeneca vaccine.
In the last episode of Mad Money, Jim Cramer said this market presents the chance to lighten on tech and start buying industrials.
TheStreet's Katherine Ross and Cramer are talking about his expectations from GameStop earnings, Amazon's deal to stream Thursday Night Football and concerns about inflation.
GameStop: Buy Or Sell?
GameStop (GME) is slated to post financial results Tuesday after the bell. The video game company is expected to report a net income of $88.3 million, or $1.35 a share, on sales of $2.2 billion, based on a FactSet survey of six analysts.
GameStop's Frank Hamlin, GameStop's chief customer officer, will leave the company at the end of the month, a move that follows the recent departure of CFO Jim Bell.
Cramer said GameStop earnings will be a judgment day. "Will Ryan Cohen try to create game palaces where they do worldwide tournaments, perhaps paid with Bitcoin. Second, will GameStop become the knowledge base of crypto? And sell you the Nvidia cards or Ethereum. They need to become the game part of the PayPal wallet."
Amazon's NFL Deal
Last week, Amazon's (AMZN) streaming service Prime Video won the rights to carry Thursday night NFL football games for 10 years, starting in 2023.
The league described the deal as its “first-ever all-digital package.”
Cramer said the deal doesn't matter because ratings for NFL games are bad. "Amazon has got these crummy games. But in fantasy sports people watch those games till the end because of gambling. It's a viable contract because of fantasy."
Cramer said investors should not worry about inflation because its transitory and commodity prices of copper, lumbar, and oil could collapse.