Earnings season starts next week

Jim Cramer said the start of earnings season next week will give investors a clearer picture of corporate performance and the strength of the artificial intelligence trade.

“No more guesswork. We're about to go into the wide world of earnings season, so we don't need to hang on every little data point to figure out where to put money into the market.”

Banks report Tuesday with mixed outlook

Goldman Sachs, Wells Fargo, JPMorgan Chase and Citigroup report Tuesday. Cramer remains bullish on Goldman Sachs and Wells Fargo but said JPMorgan is priced for near-perfect execution.

Johnson and Johnson offers buying chance

Johnson and Johnson reports Tuesday. Cramer said the stock often sells off during its earnings call despite strong results, creating a potential buying opportunity for investors.

“With 18 potential blockbuster drugs in the pipeline and among the best cardio and oncology franchises, J&J needs to be bought when it gets crushed.”

ASML guidance could signal chip demand

Semiconductor equipment maker ASML reports Wednesday. Cramer said if ASML raises guidance and talks about solid demand, investors should buy Lam Research or Applied Materials.

“If ASML raises guidance and talks about solid demand, then you need to be ready to do some buying, picking up some Lam Research or Applied Materials, my two favorite semiconductor capital equipment stocks.”

Taiwan Semiconductor could drive rally

Taiwan Semiconductor Manufacturing reports Thursday. Cramer said if results are strong, the semiconductor sector could see a rally of immense proportions next week.

“If it's strong, then we could have a rally of immense proportions.”

Bond yields remain the biggest risk

Despite the busy earnings calendar, Cramer warned that rising bond yields remain a major risk. He said there is too much supply and not enough demand for bonds at the moment.

“We have earnings, we have to worry about oil, and we have to start accepting that we'll have a plus six percent long bond because of demand for money, from both the Treasury department and private enterprise, chiefly data center investments.”

Inflation data and consumer spending due

The consumer price index releases Wednesday morning. The producer price index and retail sales figures release Thursday, offering fresh clues on inflation and consumer spending.