For Friday, July 10 TheStreet highlights the situation in Greece and China, as well as the key economic data to watch on Wall Street. TheStreet’s Jim Cramer, Portfolio Manager of the Action Alerts PLUS Charitable Trust Portfolio, says he’s watching for any new developments abroad. In Greece, a resolution may come about this weekend, which Cramer believes would drive the U.S. stock market higher. Cramer is also watching the Chinese markets after the benchmark Shanghai Composite index fell sharply earlier in the week amid volatile trading. The Chinese government has been trying to control the market, ordering company executives to not to sell their shares. Cramer is warning investors not to trust the Chinese market, saying we don’t want to be levered to China. On the economic calendar, we point out some key data. The wholesale trade numbers for the month of May will be released. Also, Boston Federal Reserve president Eric Rosengren is set to speak at the Rocky Mountain Economic Summit in Idaho. In addition, Federal Reserve chairwoman Janet Yellen is scheduled to discuss the U.S. economic outlook at the City Club of Cleveland. TheStreet’s Kurumi Fukushima reports in New York.
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