Jim Cramer: Watch Retail Earnings to Gauge Economy

Katherine Ross

The coronavirus pandemic is still impacting our day to day lives.

There are over 20.9 million cases of the virus worldwide, with over 760,000 deaths.

According to Johns Hopkins, the U.S. has surpassed 5.2 million cases with over 167,000 deaths.

And, looking at the stock market, weaker-than-expected economic data from China, which included a surprise decline in retail sales for July, added to the cautious trading on Friday morning ahead of the market open.

House Speaker Nancy Pelosi said Thursday that Democratic lawmakers and the White House remain "miles apart" in their stimulus talks. Senate lawmakers, meanwhile, followed House Democrats in adjourning for the summer break.

Watch: Why Jim Cramer Says Markets Don't Need Stimulus for Fresh Highs

The number of Americans filing for first-time unemployment benefits fell to 963,000 in the week ended Aug. 7. It was the first time claims came in below 1 million since the onset of the coronavirus pandemic in March.

So what earnings are Jim Cramer watching next week?

Retail.

He explains that it has to partially do with seeing how the consumer is spending as well as seeing the back to school trends. 

Watch the video above for more.

You can follow Jim Cramer and Katherine Ross on Twitter at @JimCramer and @byKatherineRoss. Read more from Katherine Ross here.

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