Jim Cramer's Advice for Tech Earnings: 'Do Nothing'

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Stocks were higher in intraday trading on Thursday following the S&P 500's 3.5% drop in the previous session, the biggest loss since June 11, as economic growth in the U.S. was higher than estimates and jobless claims declined.

The U.S. economy grew the most on record during the third quarter as trillions of dollars of coronavirus relief from Congress and the Federal Reserve supported household and business spending.

Third-quarter GDP growth was 7.4%, a quarterly gain that translates to an annual pace of 33.1%, a reversal from the second quarter's 31.4% decline following Covid-related shutdowns.

Weekly jobless claims fell 40,000 to 751,000, down from the upwardly revised 791,000 in the previous week.

After the bell, investors will get a slew of tech earnings from Amazon  (AMZN) - Get Report, Apple  (AAPL) - Get Report, Alphabet  (GOOGL) - Get Report, and Facebook  (FB) - Get Report.

So, what should investors do with so many earnings after the bell? Well, Jim Cramer says that investors should sit on their hands.

"We don't play this game," he advised, talking about the advice he gives Action Alerts PLUS members. 

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

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