AmEx Earnings, Jim Cramer on Fed Rate Hikes: Keys to Your Trading Day

American Express Company AXP reports earnings Thursday after the closing bell. I’ve selected this earnings report out of the many Thursday because solid revenue from American Express could signify strong discretionary spending in the U.S. It’s important for investors to see how much consumer spending there is, whether or not credit card stocks are good ones to buy right now (PayPal Holdings Inc. PYPL also reports), and whether or not the Federal Reserve’s rate hiking path is the right move.

Jim Cramer doesn’t love the Federal Reserve’s rate hiking agenda. He thinks the latest consumer price index reading of a 0.1% increase shows that inflation is correcting itself and that increased rate hikes at this point would be too much for the economy to stomach. “The 0.1% CPI this week, that’s the inflationary pressures taking care of themselves. We don’t [need] the Fed to [raise rates],” Cramer told the audience at his teach-in event Saturday.

Cramer also holds his Action Alerts Plus investing club member call Thursday late morning. For those who followed our coverage of Cramer’s teach-in on Saturday, the AAP call will likely be an even deeper dive into company’s fundamentals and which stocks Cramer and the AAP team likes.

PYPL is a holding in Jim Cramer’s Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells PYPL? Learn more now.

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