Apple iPhone 16, CPI and Oracle earnings

CNBC’s Jim Cramer discussed what to watch out for next week on Wall Street on Friday, highlighting the launch of the new iPhone 16 from Appleearnings from the enterprise software company Oracle and a consumer price index reading. He also weighed in on the nature of September, saying it’s usually a difficult time for the market.

“This is just a pretty unforgiving time until stocks get low enough to attract real buyers, not traders, and we’re getting closer to the end of September,” he said. “Until then, you can try to be agile on any rupture and sell. Or you save some money, sit back and then wait for lower prices to buy something.”

Cramer said he is optimistic about Monday’s launch of the new iPhone 16. Oracle will report after the market closes that day, and Cramer said the company has done well to incorporate artificial intelligence into its products. He said positive earnings from Oracle and Apple’s new product together could “control the technological bloodstream,” but noted that the Justice Department’s antitrust suit against Alphabet it starts that day too.

GameStop will report on Tuesday, and Cramer said there’s usually hype in the run-up to its earnings, but the company needs to present a long-term business plan or the quarter will “land with a thud.” He also mentioned that Vice President Kamala Harris will debate former President Donald Trump on Tuesday night. Cramer said he wasn’t sure how much the economy would play into the debate, but he doubted anything market-moving would come out of the event.

On Wednesday, the Labor Department will release August’s consumer price index, an important measure of inflation. According to Cramer, as long as inflation remains flat or falls, the Federal Reserve has “a lot of leeway” to lower rates and prevent the recession that many investors fear.

Thursday brings income from Jewelers with signs, Kroger and Adobe. Cramer said the diamond retailer has posted solid quarters to date, suggesting the stock is relatively cheap but “not for the faint of heart.” Kroger will likely continue to discuss its ongoing effort to merge with Albertsonsthat was blocked by the Federal Trade Commission, he said. Even though investors have been killing technology lately, Cramer pointed out that analysts appear to be bullish on Adobe.

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Disclaimer CNBC Investing Club Charitable Trust owns shares of Apple and Alphabet.