Markets opened higher to wrap up a strong week of corporate earnings. The Dow Jones Industrial Average was up 194.31 points, the Nasdaq Composite was up and the S&P 500 was up 16.93 points.
Jim Cramer and Action Alerts PLUS senior analyst Jeff Marks discussed earnings from American Express (AXP) - Get American Express Company Report, Intel (INTC) - Get Intel Corporation (INTC) Report, Snap (SNAP) - Get Snap, Inc. Class A Report, Twitter (TWTR) - Get Twitter, Inc. Report, Honeywell (HON) - Get Honeywell International Inc. (HON) Report, Schlumberger (SLB) - Get Schlumberger NV Report and much more Friday.
Watch the interview with TheStreet Live at 10:00 a.m. ET in the video below:
When asked the most important factor driving the broader markets during his monthly Action Alerts PLUS call, Cramer said earnings season simply takes the cake.
"There are 12 weeks a year where companies drive what's happening, and that's earnings season and we're in one of those 12 weeks," Cramer said.
American Express reported adjusted earnings per share of $2.80 on revenue of $10.24 billion.
Intel reported adjusted earnings of $1.28 a share on revenue of $18.5 billion.
The company's third quarter guidance disappointed with CEO Pat Gelsinger warning the global chip shortage could extend into 2023.
Honeywell reported adjusted earnings per share of $2.02 on revenue of $8.81 billion and raised forecasts for the third quarter.
Snap stock touched record highs after reporting an adjusted loss of 10 cents per share on revenue of $982 million.
The social media company's 293 million daily active users blew away analyst estimates, adding 13 million DAUs in the quarter.
Twitter reported adjusted earnings per share of 20 cents on revenue of $1.19 billion.
Jack Dorsey's social media giant saw ad revenue increase 87% in the quarter as second quarter sales and its third quarter outlook topped estimates.