Here's what investors need to know going into the earnings bonanza.
What's Going on in the Markets?
Real Money technical analyst Helene Meisler wrote about her thoughts on the market early Tuesday morning.
We are overbought and sentiment is still relatively elevated, so for now I expect a pick up in volatility in the next week or so. Should the indicators change their direction I will report that to you. It is always possible we digest the overbought reading and work off the too hot sentiment. It's too soon to tell.
But, does Cramer agree?
Real Money Stock of the Day JPMorgan released earnings before the bell Tuesday morning.
JPMorgan reported that net income in the quarter rose by 16% to $9.65 billion. The company announced earnings per share at $2.82, which beat the $2.50 average EPS estimate that analysts expected, according to FactSet.
"We had a strong second quarter and the first half of 2019, benefiting from our diversified global business model," Jamie Dimon, CEO of JPMorgan, said in a statement. "We continue to see positive momentum with the U.S. consumer -- healthy confidence levels, solid job creation and rising wages -- which are reflected in our Consumer & Community Banking results."
Dimon also noted that fast credit card sales were reflecting on healthy consumer spending, which was reflected again in retail sales--which were released this morning--and came in at 0.4%, versus 0.1% expected.
However, if a recession is on the horizon--what does that mean for JPMorgan?
Cramer's Stock Picks
In case you missed it, Cramer's got some stock picks.
In his afternoon column over on Real Money, Cramer wrote about the six stocks he'd consider for a portfolio if there is a slowdown around the corner.
Here's a sneak peek at one of the names.
If the economy is truly slowing down, then what works the best here? What are some stocks that you can buy or at least get ready to buy, like PepsiCo (PEP - Get Report) , if you are of the opinion that the world really is slowing and the Fed can't change the equation?
Cramer explains how he landed of these stocks in particular.