Cramer flags Iran-Oman protocol, Levi & Delta earnings
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- Iran‑Oman protocol to monitor Hormuz Strait traffic was reported, prompting a stock rally that reversed earlier losses after Trump's escalatory remarks.
- Cramer warned investors will be digesting the weekend's war damage in Iran on Monday, and that a further escalation may make it difficult for the market to keep climbing.
- Levi Strauss will report quarterly earnings after the close on Tuesday; despite an 8% YTD stock decline, Cramer expects "more than respectable earnings" from CEO Michelle Gass.
- Delta Air Lines will report before Wednesday's opening bell; Cramer praised its reliable earnings and noted CEO Ed Bastian's comments on persistent demand, while warning that a prolonged U.S.-Iran war could hurt its numbers.
- Core PCE deflator data will be released Thursday morning, and Cramer highlighted it as the Fed Chair Jerome Powell's preferred inflation gauge.
- Consumer price index will be released Friday, and Cramer noted a possible shift in Fed leadership (Kevin Warsh) could affect inflation policy.
Why it matters: Investors stand to gain from a potential easing of Hormuz Strait tensions, while a prolonged U.S.-Iran conflict is a risk to earnings at Levi Strauss and Delta, and the upcoming core PCE and CPI numbers will steer Fed policy and affect bond yields.
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